Dundee Precious Metals Completes Acquisition of Adriatic Metals and Confirms Name Change and ASX Listing
Dundee Precious Metals Completes Acquisition of Adriatic Metals and
Confirms Name Change and ASX Listing
Toronto, Ontario, September 3 , 2025 – Dundee Precious Metals Inc. (TSX:DPM) (“DPM”) is pleased to
announce the completion of its previously announced acquisition (the “Acquisition”) of the entire issued, and to be
issued, ordinary share capital of Adriatic Metals Plc (“Adriatic Metals”), by means of a court-sanctioned scheme of
arrangement (the “Scheme”) under Part 26 of the U .K. Companies Act 2006. The Scheme became effective in
accordance with its terms on September 3, 2025 (the “Scheme Effective Date”) , following the satisfaction of all of
the conditions to the Scheme and the delivery of the order of the High Cou rt of Justice in England and Wales
sanctioning the Scheme dated August 29, 2025, to the Registrar of Companies in England and Wales. As a result
of the completion of the Acquisition, DPM has acquired 100% of the issued share capital of Adriatic Metals, which
owns the Vareš operation (“Vareš”) in Bosnia and Herzegovina, a producing silver -lead-zinc-gold underground
mine.
“Today is an exciting milestone for DPM. With the addition of the Vareš operation, DPM is a premier mining business
with a peer-leading growth profile and a high-quality development and exploration pipeline ,” said David Rae,
President and Chief Executive Officer of DPM. “We will be leveraging o ur expertise in underground mining, our
regional presence, successful track record of operations, optimization and project management, as well as our
strong financial position, to further optimize and realize Vareš’ full value potential.”
With the Acquisition completed, DPM intends to complete the previously announced change of its corporate name,
from “Dundee Precious Metals Inc.” to “DPM Metals Inc.” , with effect as of September 12 , 2025 (the “ Name
Change”). Further, DPM has also been granted approval for admission to the Official List of ASX Limited (the “ASX”)
as an ASX Foreign Exempt Listing (as defined in the ASX Listing Rules), subject to the satisfaction of certain
customary conditions. Official quotation of DPM’s CHESS Depositary In terests on ASX is expected to commence
on a normal settlement basis on September 17, 2025 under the ASX code “DPM”.
Further details with respect to the settlement of the cash and share consideration in relation to the Acquisition may
be found in the announcement made by Adriatic Metals dated September 3, 2025.
Name Change to DPM Metals
The Name Change is expected to be effective as of September 12 , 2025 . Following completion of the Name
Change, the DPM Shares will continue to trade on the TSX under the ticker symbol “DPM”, with such DPM Shares
to trade on a post-Name Change basis on the TSX as of market open on September 15, 2025 . The new CUSIP
assigned to the DPM Shares , as constituted following the Name Change , will be 26139R109 (ISIN:
CA26139R1091).
Dundee Precious Metals Completion Acquisition of Adriatic Metals | 2
Australian Stock Exchange (“ASX”) Listing
DPM has been granted approval for admission to the Official List of the ASX as an ASX Foreign Exempt Listing,
subject to the satisfaction of certain customary conditions, including the issue of DPM CDIs . Official quotation of
DPM CDIs on the ASX is expected to commence on a normal settlement basis on September 17, 2025 under the
ASX code ‘DPM’.
As an ASX Foreign Exempt Listing, DPM will be exempt from complying with most of the ASX Listing Rules. DPM
must provide the ASX all information provided to the TSX, continue to comply with the rules and policies of the TSX,
and comply with other procedural and administrative matters.
DPM’s ASX listing will provide former Adriatic CDI holders continued access to trading on the ASX, while also
enhancing liquidity and providing access to the Australian capital markets for all investors. This is expected to
support a more robust market, benefiting both new and existing DPM shareholders.
About Dundee Precious Metals Inc.
Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects
located in Bulgaria, Bosnia and Herzegovina, Serbia and Ecuador. Our strategic objective is to become a mid -tier
precious metals company, which is based on sustainable, responsible and efficient gold production from our
portfolio, the development of quality assets, and maintaining a strong financial position to support growth in mineral
reserves and production through disciplined strategic transactions. This strategy cr eates a platform for robust
growth to deliver above -average returns for DPM Shareholders. DPM’s shares are traded on the Toronto Stock
Exchange (symbol: DPM).
For further information please contact:
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
Cautionary Note Regarding Forward Looking Statements
This news 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 news release relate to, among other things: the ability
of the Company to realize the anticipated benefits of the Acquisition; the completion of the Name Change and the
anticipated timing thereof; the quotation of the DPM CDIs on the ASX , the satisfaction of all applic able conditions
Dundee Precious Metals Completion Acquisition of Adriatic Metals | 3
thereto, and the anticipated timing and benefits thereof . Forward Looking Statements are based on certain key
assumptions and the opinions and estimates of management, 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 DPM to be materially different from any other future results, performance or achievements
expressed or implied by the Forward Looking Statements. Such factors inc lude, among others, those risk factors
discussed or referred to in the documents (including without limitation DPM’s most recent Annual Information Form
and the documents relating to Acquisition) filed from time to time with the securities regulatory authorities in all
provinces and territories of Canada and available on SEDAR+ at www.sedarplus.ca. The reader has been cautioned
that the foregoing list is not exhaustive of all factors which may ha ve been used. Although DPM 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.
DPM’s Forward Looking Statements reflect current expectations regarding future e vents and speak only as of the
date hereof. Unless required by securities laws, DPM 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.