Dundee Precious Metals Announces Renewal of Normal Course Issuer Bid
DUNDEE PRECIOUS METALS ANNOUNCES RENEWAL OF
NORMAL COURSE ISSUER BID
Toronto, February 21, 20 20 – 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 repurchase certain of its common shares (“Shares”) through
the facilities of the TSX. The Company commenced a normal course issuer bid (the “Previous Bid”) on
May 16, 2018 , which expired on May 15, 2019 . Under the Previous Bid, the Company sought and
obtained approval to purchase up to 8.9 million Shares.
The number of Shares that can be purchased during the period of the New Bid, which commences on
February 28 , 2020 and terminates on February 27, 2021 , will not exceed 9 million Shares, being
approximately 5% of the 180,580,452 outstanding Shares as of February 18, 2020. 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 repurchased 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 134,336 Shares, representing 25% of the average daily trading volume
of Shares for the most recently completed six month period, being 537,347 Shares, other than block
purchase exceptions.
The Company has re-appointed RBC Capital Markets to make any purchases under the New Bid on its
behalf. Under the Previous Bid, the Company sought and obtained approval to purchase up to 8.9 million
Shares but did not purchase any Shares under the Previous Bid as it continued to fund the development
of its Ada Tepe mine in Bulgaria. 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 engaged in the
acquisition of mineral properties, exploration, development, mining and processing of precious metals.
The Company's operating assets include the Chelopech op eration, 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 operations, 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 10.4% interest in Sabina Gold & Silver Corp. and
its 19.5% interest in INV Metals Inc.
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”, “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; price of gold, copper, silver and acid, toll rates, smelter
metal recoveries and stockpile interest deductions; and the timing and amount of estimated future
production and output, life of mine, costs of production, cash costs and other cost measures, cap ital
expenditures, rates of return at certain of the Company’s deposits and timing of the development of new
deposits. 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 press release, such
factors include, among others: no assurance that the Company will purchase any Shares under the New
Bid; the uncertainties with respect to the actual results of current exploration activities; actual results of
current reclamation activities; conclusions of economic evaluations and economic studies; changes in
project parameters as plans continue to be refined; possible variations in ore grade or recovery rates;
failure of plant, equipment or processes to operate as anticipated; uncertainties and risks inherent to
developing and commissioning new mines into production, which may be subject to unforeseen delays;
accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental
approvals or financing or in the completion of development or construction activities; social and non -
government organizations opposition to mining projects and smelting operations; uncertainties inherent
with conducting business in foreign jurisdictions where corruption, civil unrest, political instability and
uncertainties with the rule of law may impact th e Company’s activities; fluctuations in metal and acid
prices, toll rates and foreign exchange rates; unanticipated title disputes; claims or litigation; limitation
on insurance coverage; cyber attacks; risks related to the implementation, cost and realiza tion of
benefits from digital initiatives; failure to realize projected financial results from MineRP Holdings Inc.;
risks related to operating a technology business reliant on the ownership, protection and ongoing
development of key intellectual propertie s; as well as those risk factors discussed or referred to in any
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 which may have been used. Although the Company has attempted to identify
important factors that could cause act ual 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 Lo oking
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. Unless required by securities
laws, 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:
DUNDEE PRECIOUS METALS INC.
Rick Howes
President and
Chief Executive Officer
Tel: (416) 365-2836
Hume Kyle
Executive Vice President and
Chief Financial Officer
Tel: (416) 365-5091
Jennifer Cameron
Director, Investor Relations
Tel: (416) 365-2549