Dundee Precious Metals Announces Renewal of Normal Course Issuer Bid
25 Februar 2022 - 1:45PM
Dundee Precious Metals Inc. (TSX: DPM) (the
“Company”) announced today that the Toronto Stock Exchange (“TSX”)
accepted its notice of intention to renew its normal course issuer
bid (the “New Bid”) to purchase certain of its common shares
(“Shares”) through the facilities of the TSX. The Company commenced
a normal course issuer bid (the “Current Bid”) on March 1, 2021,
which terminates on February 28, 2022. Under the Current Bid, the
Company sought and obtained approval to purchase up to 9 million
Shares. As at February 17, 2022, the Company had purchased
2,857,800 Shares under the Current Bid.
The number of Shares that may be purchased
during the period of the New Bid, which commences on March 1, 2022
and terminates on February 28, 2023, will not exceed 9 million
Shares, being 4.7% of the 190,880,058 issued and outstanding Shares
as of February 17, 2022. All purchases made pursuant to the New Bid
will be made through the facilities of the TSX or other alternative
trading systems in accordance with applicable Canadian securities
laws and Shares purchased pursuant to the New Bid will be
cancelled. Pursuant to the terms of the New Bid, 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 recently completed six-month period, being 401,276 Shares,
other than block purchase exceptions. The New Bid will also allow
the Company to implement an automatic share repurchase plan with
its designated broker in order to facilitate purchase of its
shares.
The Company has re-appointed RBC Capital Markets
to make any purchases under the New Bid on its behalf. The actual
timing and number of Shares that may be purchased pursuant to the
New Bid will be subject to a number of considerations, including,
among other things, the Company’s Share price, financial position,
and its assessment of alternative uses of capital in accordance
with a disciplined capital allocation framework.
About Dundee Precious Metals
Inc.
Dundee Precious Metals Inc. is a Canadian-based
international gold mining company with operations and projects
located in Bulgaria, Namibia, Ecuador and Serbia. The Company’s
purpose is to unlock resources and generate value to thrive and
grow together. This overall purpose is supported by a foundation of
core values, which guides how the Company conducts its business and
informs a set of complementary strategic pillars and objectives
related to ESG, innovation, optimizing our existing portfolio, and
growth. The Company’s resources are allocated in-line with its
strategy to ensure that DPM delivers value for all of its
stakeholders. DPM’s shares are traded on the Toronto Stock Exchange
(symbol: DPM).
Cautionary Note 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 terminology such as “plans”,
“expects”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “guidance”, “outlook”, “intends”, “anticipates”,
“believes”, or variations of such words and phrases or that state
that certain actions, events or results “may”, “could”, “would”,
“might” or “will” be taken, occur or be achieved, or the negative
of any of these terms or similar expressions. The Forward Looking
Statements in this press release relate to, among other things: the
timing and number of Shares that may be purchased pursuant to the
New Bid. 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 they
involve known and unknown risks, uncertainties and other factors
which 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 factors already
discussed in this news release, such factors include, among others:
there being no assurance that the Company will purchase any Shares
under the New Bid; as well as those risk factors discussed or
referred to in the Company’s MD&A under the heading “Risks and
Uncertainties” and under the heading “Cautionary Note Regarding
Forward Looking Statements” which include further details on
material assumptions used to develop such Forward Looking
Statements and material 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 from time to time with the
securities regulatory authorities in all provinces and territories
of Canada and available on SEDAR at www.sedar.com.
The reader has been cautioned that the foregoing
list is not exhaustive of all factors and assumptions which 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 Forward
Looking Statements, there may be other factors that cause actions,
events or results not to be 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. Other
than as it may be 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 further information please contact:
David RaePresident and Chief
Executive OfficerTel: (416) 365-5092drae@dundeeprecious.com
Hume KyleExecutive Vice
President and Chief Financial OfficerTel: (416)
365-5091hkyle@dundeeprecious.com
Jennifer CameronDirector,
Investor RelationsTel: (416)
219-6177jcameron@dundeeprecious.com
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