The Ned and Anita Goodman Joint Partner Trust announces transfer of Securities of Dundee Corporation

TORONTO, March 25, 2019 /CNW/ - On March 22, 2019, The Ned and Anita Goodman Joint Partner Trust (the Trust) transferred an aggregate of 4,895,462 Subordinate Voting Shares and 3,086,583 Multiple Voting Shares of Dundee, held personally by Ned Goodman and held indirectly through Caylee Development Corporation (a corporation which is wholly controlled by Ned Goodman) for estate planning purposes (the Transfer). The trustees of the Trust are the sons of Ned Goodman, being Jonathan Goodman, David Goodman, Mark Goodman and Daniel Goodman (the Trustees), and all decisions on behalf of the Trust must be made by at least three of the four Trustees.

Following the Transfer, the Trust controls all of the shares of Dundee previously controlled directly or indirectly by Ned Goodman, and which represent 8.44% of the outstanding Subordinate Voting Shares and 99.09% of the outstanding Multiple Voting Shares, and collectively a 84.86% voting interest in the total votes represented by the outstanding Subordinate Voting Shares and Multiple Voting Shares taken together.

In their personal capacities, the Trustees each own through personal holding corporations 25% of the voting shares of a private company, Jodamada Corporation, which owns in aggregate 6,488,006 Subordinate Voting Shares, representing 11.19% of the Subordinate Voting Shares and a 1.76% voting interest in the total votes represented by the outstanding Subordinate Voting Shares and Multiple Voting Shares taken together. As a part of the Transfer, the Trust acquired a non-voting interest in Jodamada Corporation from Ned Goodman (collectively with the personal holding companies of the Trustees, the Shareholders).

The Shareholders have entered into an unanimous shareholders agreement under which certain decisions are to be made unanimously by the directors of the corporation Jodamada Corporation and, further, any designated Trustee can request that his proportionate number of Dundee shares held directly or indirectly by Jodamada Corporation be sold and the proceeds transferred to him. The other Trustees must grant their approval for such a request, provided that the sale is to be done in accordance with the unanimous shareholders agreement and applicable securities rules.  The unanimous shareholders agreement may only be amended, supplemented or otherwise modified by written agreement of all of the shareholders of the corporation.

Jonathan Goodman owns, directly or indirectly an aggregate of 592,215 Subordinate Voting Shares representing less than 2% of the voting interest in the total votes represented by the outstanding Subordinate Voting Shares and Multiple Voting Shares taken together. David Goodman owns, directly or indirectly an aggregate of 1,000,708 Subordinate Voting Shares, 280,000 Restricted Share Awards and 158,870 Deferred Share Units representing less than 2% of the voting interest in the total votes represented by the outstanding Subordinate Voting Shares and Multiple Voting Shares taken together. Mark Goodman owns, directly or indirectly an aggregate of 582,488 Subordinate Voting Shares, 160,000 Restricted Share Awards and 1,988 Deferred Share Units representing less than 2% of the voting interest in the total votes represented by the outstanding Subordinate Voting Shares and Multiple Voting Shares taken together.

An early warning report is to be filed in conjunction with this news release and will be available under Dundee Corporation's SEDAR profile at www.sedar.com.

SOURCE The Ned and Anita Goodman Joint Partner Trust

please contact Jenny Skytta at [phone].