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Dundee Corporation Announces Closing of the Sale of its Interest in Android Industries
Globenewswire· 2025-12-12 23:01
Core Points - Dundee Corporation has successfully closed the sale of its 20% interest in Android Industries, a leading assembler for the automotive industry, marking a significant milestone in the company's strategy to optimize its asset portfolio [1][2] - The transaction resulted in cash proceeds of approximately C$27.3 million at closing, with an additional C$15.3 million contingent upon the release of escrows [2] - The company remains focused on growth within the mining sector and is committed to delivering value to shareholders through strategic investments [2][3] Company Overview - Dundee Corporation is a public Canadian independent mining-focused holding company listed on the Toronto Stock Exchange under the symbol "DC.A" [3] - The company primarily engages in acquiring mineral resource assets and aims to unlock value through strategic investments in mining projects globally [3] - Dundee conducts due diligence to assess the merits and risks of each project, seeking to generate investment returns or collaborate with operating partners [3]
PharmaCielo Completes La Margarita Land Sale, Repays Banco Agrario Loan, Strengthens Balance Sheet, Completes Audit
Globenewswire· 2025-10-06 15:47
Core Viewpoint - PharmaCielo Ltd. has successfully closed the sale of its La Margarita property, which is a strategic move to strengthen its financial position and focus on core growth opportunities in the cannabis market [2][4]. Financial Performance - For the fifteen months ended March 31, 2025, PharmaCielo reported revenue of CAD $487,000, an increase from CAD $240,000 for the same period in the previous year [4]. - The adjusted EBITDA loss improved to CAD $(801,000) from CAD $(1,264,000) year-over-year [4]. - The net loss for the period was CAD $(2,228,000), slightly better than CAD $(2,420,000) for the previous year [4]. - The net loss per share was CAD $(0.013), compared to CAD $(0.014) in the prior year [4]. Transaction Details - The La Margarita property was sold for a gross sale price of COP $26,000,000,000 (approximately CAD $8.6 million) [8]. - Proceeds from the sale were used to fully repay the Banco Agrario Loan, totaling COP $6,129,153,444 (CAD $2.1 million), including principal, interest, and legal costs [8]. - Approximately CAD $4.0 million of the proceeds will be transferred to Canada for corporate payments after loan repayment [8]. Strategic Rationale - The divestment of the La Margarita property aligns with PharmaCielo's strategy to optimize its asset portfolio and focus on high-value opportunities [8]. - The company aims to concentrate resources on expanding its sales pipeline and advancing strategic partnerships to achieve profitability [4][8]. Business Outlook - PharmaCielo is positioned to become profitable in 2026, with a focus on expanding its presence in Latin America, particularly Brazil, and entering new markets such as South Africa, Australia, and the EU [9]. - The company is improving its cost structure by eliminating non-essential expenditures and right-sizing its operations [9]. - PharmaCielo is committed to maintaining EU-GMP compliance while optimizing operational costs and capital investments to deliver high-quality products [16].