TORONTO, Feb. 25 2022 (GLOBE NEWSWIRE) — Dundee Precious Metals Inc. (TSX: DPM) (the “Company”) today announced that the Toronto Stock Exchange (“TSX”) has accepted its notice of intention to renew its normal course issuer bid (the “New Bid”) for the purchase of certain of its common shares (“Shares”) through the facilities of the TSX. The Company launched a normal course issuer bid (the “Current Bid”) on March 1, 2021, which expires on February 28, 2022. Under the Current Bid, the Company has requested and obtained approval to purchase up to 9 million Shares. As of February 17, 2022, the Company has purchased 2,857,800 shares under the current offer.
The number of Shares that may be purchased during the New Offer period, which begins on March 1, 2022 and ends on February 28, 2023, will not exceed 9 million Shares, or 4.7% of the 190,880,058 Shares issued and outstanding as of February 17, 2022. All purchases made under the New Offering will be made through the facilities of the TSX or other alternative trading systems in accordance with applicable Canadian securities and equity laws. purchased under the new offer will be forfeited. Pursuant to the terms of the New Offering, the Company will not acquire on any given trading day more than 100,319 Shares, representing 25% of the average daily trading volume of Shares for the most recent six-month period, being 401,276 Actions, other than bulk purchase exceptions. The New Offering will also allow the Company to set up an automatic share buyback plan with its designated broker in order to facilitate the purchase of its shares.
The Company has renamed RBC Capital Markets to make all purchases under the new offering on its behalf. The actual timing and number of Shares that may be purchased under the New Offering will be subject to a number of considerations, including, but not limited to, the Company’s Share price, financial condition and valuation. other uses of capital in accordance with a disciplined capital allocation framework.
About Dundee Precious Metals Inc.
Dundee Precious Metals Inc. is an international gold mining company based in Canada with operations and projects located in Bulgaria, Namibia, Ecuador and Serbia. The company’s goal is to free up resources and generate value to prosper and grow together. This general objective is supported by a set of core values, which guide the way the Company conducts its business and informs a set of complementary strategic pillars and objectives related to ESG, innovation, the optimization of our existing and growing portfolio. The Company’s resources are allocated in accordance with its strategy to ensure that DPM delivers value to all of its stakeholders. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) that involve a number of risks and uncertainties. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of forward-looking terms such as “plans”, “expects”, “is planned”, “budget”, “expected “, “estimates”, “forecasts”, “guidance”, “outlook”, “intends”, “anticipates”, “believes” or variations of these words and expressions or which indicate that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative form of any of these similar terms or expressions. Forward-looking statements in this press release relate to, among other things, the timing and number of shares that may be purchased under the new offering. Forward-looking statements are based on certain key assumptions and the opinions and estimates of management and qualified persons (in the case of technical and scientific information), as of the date such statements are made, and involve known risks and unknowns, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any other future results, performance or achievements expressed or implied by the forward-looking statements. In addition to the factors already discussed in this press release, these factors include, among others: there can be no assurance that the Company will purchase Shares under the New Offering; as well as the risk factors discussed or mentioned in the Company’s management report under the heading “Risks and uncertainties” and under the heading “Cautionary note regarding forward-looking statements” which include additional details on the important assumptions used to develop such forward-looking statements and the risk factors that could cause actual results to differ materially from forward-looking statements and other documents (including, without limitation, the Company’s most recent Annual Information Form) filed with from time to time with securities regulatory authorities in all provinces and territories of Canada and available on SEDAR at www.sedar.com.
Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that may have been used. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actual actions, events or results are not anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The company’s forward-looking statements reflect current expectations regarding future events and speak only as of the date hereof. Except as required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.
For more information, please contact:
President and CEO
Tel: (416) 365-5092
Executive Vice President and Chief Financial Officer
Tel: (416) 365-5091
Director, Investor Relations
Tel: (416) 219-6177