Dundee Precious Metals Inc. filed an early warning report with respect to its ownership in INV Metals Inc. (“INV Metals”) following the completion of a non-brokered C$3,962,683 private placement (the “Offering”). Pursuant to the terms of the Offering, INV Metals issued 8,805,962 common shares (the “Common Shares”) to the Company at a price of C$0.45 per Common Share. Following completion of the Offering, the Company owns 35,344,424 Common Shares, or approximately 23.5% of the issued and outstanding Common Shares, calculated on a non-diluted basis. The Common Shares issued under the Offering are subject to a customary four month statutory hold period.
DPM completed the Offering solely for investment purposes and may increase or decrease its investment based on market conditions and other circumstances. The investment is in line with DPM’s disciplined capital allocation framework that balances reinvesting capital in the business in an accretive manner with building financial strength and returning capital to shareholders.
DPM is a multi-asset mid-tier producer with a range of unique experience in permitting, developing, underground mining, and processing with respect to projects similar to Loma Larga. This technical capability, along with DPM’s experience managing environmental issues and partnering with the communities in which it operates, continue to be areas where DPM brings value to INV Metals.
An early warning report, as required under National Instrument 62-103, contains additional information with respect to the foregoing matters and will be filed by the Company on INV Metal’s SEDAR profile at www.sedar.com.
About Dundee Precious Metals Inc.
Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged in the acquisition of mineral properties, exploration, development, mining and processing of precious metals. The Company’s operating assets include the Chelopech operation, which produces a gold-copper concentrate containing gold, copper and silver and a pyrite concentrate containing gold, located east of Sofia, Bulgaria; the Ada Tepe operation, which produces a gold concentrate containing gold and silver, located in southern Bulgaria; and the Tsumeb smelter, a complex copper concentrate processing facility located in Namibia. DPM also holds interests in a number of developing gold and exploration properties located in Canada, Serbia and Ecuador, including its 9.4% interest in Sabina Gold & Silver Corp. and its 23.5% interest in INV Metals Inc.
For further information please contact:
David Rae
President and Chief Executive Officer
Tel: (416) 365-5092
drae@dundeeprecious.com
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
jcameron@dundeeprecious.com