Dundee Wealth Management Inc. announced today that it has mailed its take-over bid circular and offer to all Canadian First Financial Group Inc. shareholders in connection with Dundee’s previously announced takeover bid for all outstanding CFFG shares.

Dundee is making an all cash takeover bid to acquire all of the outstanding shares of CFFG for an aggregate purchase price of $11,345,000. Based on approximately 8.527 million CFFG shares outstanding, this represents $1.33 per share. The per-share price will be adjusted, if necessary, based on the actual number of shares outstanding at the closing of the transaction.

The offer is open for acceptance until 19:00 ET on July 24, and is conditional upon, among other things, at least 90% of the outstanding CFFG being validly deposited. If successful,

Shareholders holding approximately 84.81% of the CFFG shares have entered into “lock-up agreements” to tender their shares to the offer. The board of directors of CFFG has unanimously approved the offer, and the directors’ circular recommending acceptance of the offer is being mailed to shareholders with the Dundee circular and offer.

CFFG’s major operating subsidiaries include Ross Dixon Financial Services, Hewmac Financial Group and Canadian First Mortgage Services.