Dundee Precious Metals Announces Renewal of Normal Course Issuer Bid
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Dundee Precious Metals Announces Renewal of Normal Course Issuer Bid
Toronto, March 14, 2024 – Dundee Precious Metals Inc. (TSX: DPM) (the “Company”) announced
today that the Toronto Stock Exchange (“T SX”) 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 “ Previous Bid”) on
March 1, 2023, which terminated on February 28, 2024. Under the Previous Bid, the Company sought
and obtained approval to purchase up to 16.5 million Shares , being approximately 9.8% of the
Company’s public float as of February 16, 2023 . The Company repurchased 9,186,706 Shares under
the Previous Bid.
The number of Shares that may be purchased during the period of the New Bid, which will commence
on March 18, 2024, and terminate on March 17, 202 5, will not exceed 15.5 million Shares, being
approximately 9.8% of the Company’s public float of Common Shares as of March 6, 202 4. 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 Canadia n 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 137,811 Shares, representing 25% of the
average daily trading volume of Shares for the most recently completed six-month period, being 551,244
Shares, other than block purchase exceptions.
The Company has established an automatic share purchase plan ("ASPP") in connection with the NCIB
to facilitate the purchase of Shares during times when the Company would ordinarily not be permitted
to purchase Shares due to regulatory restrictions or self -imposed black-out periods. Before entering a
black-out period, the Company may, but is not required to, instruct its broker to make purchases under
the NCIB based on parameters set by the Company in accordance with the ASPP, TSX rules and
applicable secur ities laws. The ASPP has been pre -cleared by the TSX and will be implemented
effective March 18, 2024.
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 , Serbia and Ecuador. 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
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DPM delivers value for all of its stakeholders. DPM’s shares are traded on the Toronto Stock Exchange
(symbol: DPM).
For further information please contact:
David Rae
President and Chief Executive Officer
Tel: (416) 365-5191
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
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 and/or pursuant to the terms of the ASPP .
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 or the ASPP ; 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 us ed to develop
such Forward Looking Statements and m aterial 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 regu latory
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 ma y 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.