Toronto Stock Exchange (TSX): DNG OTC (United States): DNGDF
2019
Dynacor Gold Mines Inc. (Dynacor)
Symbol:
Toronto Stock Exchange (TSX): DNG
OTC (United States): DNGDF
Shares issued and outstanding: 39,133,989
PR-2019-04-06
DYNACOR RECEIVES TSX APPROVAL TO RENEW NORMAL COURSE ISSUER BID
Montreal, April 30, 2019 – Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the
Corporation) is pleased to announce that the Toronto Stock Exchange (TSX) has approved the
Corporation's request to establish a normal course issuer bid (NCIB), through which Dynacor may
purchase, for cancellation, up to 3,273,485 common shares or approximately 10% of its public float as
of April 17, 2019. The number of issued and outstanding common shares of Dynacor was 39,139,373
and the public float was 32,734,859 as of April 17, 2019.
Dynacor is in a financially strong position to continue to return a portion of its cash to its shareholders
through the NCIB . Additionally, it is reviewing other value -added opportunities which could further
contribute to enhancing shareholder value.
The Corporation may purchase shares under the NCIB over a period of twelve months commencing
on May 2 , 2019, and ending May 1 , 2020 , when the bid expires. NCIB p urchases will be made
through the facilities of the TSX and certain Alternative Trading Systems , and the price for any
repurchased shares will be the p revailing market price at the time of the acquisition. All common
shares purchased by the Corporation will be cancelled. The number of shares repurchased on any
given day may not exceed 6,387 common shares, which is equal to 25% of the average daily tradin g
volume on the TSX for the period of six months ending March 31, 2019, except where purchases are
in accordance with the “block purchase exception” of the TSX rules. The average daily volume for this
period was calculated in accordance with the rules of the TSX and is equal to 25,549 common shares.
The NCIB represents a pro per utilization of Dynacor’s available funds as part of the Corporation’s
capital management strategy and is being established to enhance shareholder value.
The extent to which Dynacor repurchases its shares and the timing of such repurchases will depend
upon market conditions and other corporate considerations, as determined by Dynacor's management
team. The Corporation will use funds from its existing cash balances to purchase the shares.
Under the previously approved NCIB, which commenced on April 23, 2018 , and terminated on April
22, 2019, Dynacor could repurchase up to 1,982,717 common shares. The actual number of common
shares repurchased under the previous program was 837,355, with a weighted average price of $1.68
per common share. The purchases under the previous program have been effected through the
facilities of the TSX as well as certain Alternative Trading Systems.
ABOUT DYNACOR
Dynacor is a dividend paying gold production Corporation headquartered in Montreal, Canada. The Corporation is engaged
in production through the processing of ore purchased from small scale artisanal miners. At present, Dynacor produces and
explores in Peru where its management team has decades of experience and expertise. In 2018, Dynacor produced 81,314
ounces of gold, a yearly best and 1.8% increase as compared with 2017 (79,897 ounces).
Dynacor produces environmental and socially responsible gold through its ‘’PX Impact’’ gold program. A growing number of
supportive firms from the fine luxury jewelry, watchmakers and investment sectors are paying a small premium to our
customer and strate gic partner for this PX Impact gold. The premium provides direct investment to develop health and
education projects to our small-scale artisanal miner's communities.
Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).
FORWARD-LOOKING INFORMATION
Certain statements in the preceding may constitute forward -looking statements, which involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry
results, to be materially different from any future result, performance or achievement expressed or implied by such forward -
looking statements. These statements reflect management’s current expectations regarding future events and operating
performance as of the date of this news release.
Dynacor (TSX: DNG / OTC: DNGDF)
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
For more information, please contact:
Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: 604.492.0099 | M: 604.562.1348