PARQ HOLDINGS LIMITED PARTNERSHIP COMPLETES PROJECT FINANCING FOR DEVELOPMENT OF VANCOUVER-BASED URBAN ENTERTAINMENT AND LEISURE RESORT

Vancouver, B.C. (December 17, 2014) – Parq Holdings Limited Partnership, a joint venture between Dundee Corporation (TSX:DC.A), Paragon Development Ltd. and PBC VUR Limited Partnership, is pleased to announce that it has completed a USD$415 million project financing for the development of a world-class urban resort adjacent to the B.C. Place Stadium in Vancouver, British Columbia. Once completed, the resort will feature two luxury hotels, a 60,000 square foot conference centre, five exceptional restaurants, three lounges, retail space and a new home for the existing Edgewater Casino. Project financing was arranged by a syndicate of financial institutions led by Credit Suisse Securities (USA) LLC, with the participation of Dundee Securities Ltd. and Valtus Capital Group, LLC.

The project financing, comprised of a USD$265 million first lien term loan and a USD$150 million second lien term loan, will provide the required financial commitment to complete the development and construction of the project. Dundee Corporation and Paragon Development Ltd. each hold an approximate 37% interest in the project, with PBC VUR Limited Partnership, managed by PBC Real Estate Advisors Inc., holding the remaining 26% interest.

EllisDon Corporation and Tishman Construction Corporation are constructing the project pursuant to a guaranteed maximum price construction contract. Construction has commenced and is expected to be complete at the end of 2016. Dundee 360 Real Estate Corporation, a wholly owned subsidiary of Dundee Corporation, and Paragon Smithe Street Developer ULC, an affiliate of Paragon Development Ltd., will jointly manage construction of the project.

About Dundee Corporation

Dundee Corporation is a public Canadian independent holding company listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of its core competencies including investment advisory and corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these core focus areas, as well as other select investments in both publicly listed and private companies.

About Paragon Gaming Inc.

Paragon Gaming Inc. and its affiliates are one of North America’s leading destination resort developers. The Company’s principals are responsible for the successful development and operation of numerous landmark projects throughout North America, with a special emphasis on gaming-based destinations.

About PBC Real Estate Advisors Inc.

PBC Real Estate Advisors Inc., as an asset manager is engaged through limited partnerships to pursue, develop, acquire, fund and manage various real estate assets including land, real property and mortgages on behalf of its institutional limited partners. PBC Real Estate Advisors Inc. currently manages assets in Ontario, Québec, Nova Scotia, Alberta and British Columbia.

This press release contains “forward-looking statements” within the meaning of applicable securities laws that are intended to be covered by the safe harbours created by those laws, including statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential”, or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements may include, without limitation, statements regarding the completion of the proposed project and other statements that are not historical facts. While such forward-looking statements are expressed in good faith and believed to have a reasonable basis, they are subject to important risks and uncertainties including, without limitation, the negotiation and completion of definitive agreements relating to the project, financing of the project, approval of applicable governmental authorities and changes in applicable laws or regulations, which could cause actual results to differ materially from future results expressed, projected or implied by the forward- looking statements. As a result of these risks and uncertainties, the proposed project could be modified, restructured or not be completed, and the results or events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. Neither Dundee Corporation, Paragon Development Ltd., PBC VUR Limited Partnership or any of their affiliates affirm or adopt any statements made by any other person in respect of the proposed project and each expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws or to comment on expectations of, or statements made by any other person in respect of the proposed project. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Reliance on forward- looking statements is at the investors’ own risk.

For media information please contact:

Naomi Strasser
Aerial Communications Group
Tel: 416.787.6577
Email: naomi@aerialpr.com

Robin Conners
Dundee 360 Real Estate Corporation
President and Chief Executive Officer
Tel: 514.987.6452
Email: rconners@dundee360.com

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