Dundee Precious Metals Files Early Warning Report Regarding Investment IN Inv Metals Inc.
DUNDEE PRECIOUS METALS FILES EARLY WARNING REPORT REGARDING
INVESTMENT IN INV METALS INC.
Toronto, Ontario, October 28, 2019 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or the
“Company”) today announced the completion of a non-brokered C$1 0,000,000 (approximately
US$7,650,000) private placement (the “Offering”) in INV Metals Inc. (“INV Metals”). Pursuant to
the terms of the Offering, INV Metals issued 25,000,000 common shares (the “Common Shares”)
to the Company at a price of C$0.40 per Common Share. Following completion of the Offering,
the Company owns 26,538,462 Common Shares, or approximately 19. 5% of the issued and
outstanding Common Shares, calculated on a non-diluted basis. T he Common Shares issued
under the Offering are subject to a customary four month and one day statutory hold period.
In connection with the Offering, the Company has entered into an investor rights agreement with
INV Metals, dated October 28, 2019 (the “Investor Rights Agreem ent”). Pursuant to the terms of
the Investor Rights Agreement, for so long as the Company owns, exercises control or direction
over, in aggregate not less than 10% of the Common Shares issue d and outstanding, the
Company is entitled to designate one individual to be nominated to serve as a director of INV
Metals. Under the terms of the Investor Rights Agreement, the C ompany has also agreed to a
customary standstill and has been granted customary anti-diluti on rights. A copy of the Investor
Rights Agreement will be filed by INV Metals on SEDAR.
DPM completed the Offering solely for investment purposes and m ay increase or decrease its
investment based on market conditions and other circumstances. The investment is in line with
DPM’s disciplined capital allocation framework that balances re investing capital in the business
in an accretive manner with building financial strength and returning capital to shareholders.
DPM is a multi-asset mid-tier producer with a range of unique e xperience in permitting,
developing, underground mining, and processing with respect to projects similar to Loma Larga.
This technical experience, along with DPM’s commitment to the environment and communities in
which it operates, are expected to be valuable to INV Metals during this next phase of permitting.
An early warning report, as required under National Instrument 62-103, contains additional
information with respect to the foregoing matters and will be filed by the Company on INV Metal's
SEDAR profile at www.sedar.com.
About Dundee Precious Metals
Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged
in the acquisition of mineral properties, exploration, developm ent, mining and processing of
precious metals. The Company's operating assets include the Che lopech operation, 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 operation, which produces a gold
concentrate containing gold and silver, located in southern Bul garia; 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 and Serbia, and its
10.3% interest in Sabina Gold & Silver Corp.
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Forward Looking Statements
This release contains certain statements that constitute forwar d-looking information within the
meaning of applicable securities laws (“forward-looking stateme nts”). Such forward-looking
statements involve known and unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of DPM, or developm ents in DPM’s business or in
its industry, to differ materially from the anticipated results , performance, achievements or
developments expressed or implied by such forward-looking state ments. Forward-looking
statements include, without limitation, all disclosure regardin g possible events, conditions or
results of operations, future economic conditions and courses o f action, any of the Company’s
proposed plans with respect to mine plan, anticipated 2019 resu lts, mineral reserve and mineral
resource estimates, anticipated life of mine operating and fina ncial results. Such statements are
based upon assumptions, opinions and analysis made by management in light of its experience,
current conditions and its expectations of future developments that management believe to be
reasonable and relevant. These assumptions include, among other things, the ability to obtain
any requisite governmental approvals, the accuracy of mineral r eserve and mineral resource
estimates, commodity prices, exchange rates, fuel and energy costs, future economic conditions
and courses of action. DPM cautions you not to place undue reli ance upon any such forward-
looking statements, which speak only as of the date they are ma de. The risks and uncertainties
that may affect forward-looking statements include, among other s: the inherent risks involved in
exploration and development of mineral properties, including go vernment approvals and
permitting, changes in economic conditions, changes in the worl dwide price of commodities and
other key inputs, changes in mine plans and other factors, such as project execution delays, many
of which are beyond the control of DPM, as well as other risks and uncertainties which are more
fully described in the Company’s annual information form dated March 28, 2019, and in other
company filings with securities and regulatory authorities which are available at www.sedar.com.
DPM does not undertake any obligation to update forward-looking statements should
assumptions related to these plans, estimates, projections, beliefs and opinions change. Nothing
in this report should be construed as either an offer to sell o r a solicitation to buy or sell DPM
securities.
For further information, please contact:
DUNDEE PRECIOUS METALS INC.
Rick Howes
President and
Chief Executive Officer
Tel: (416) 365-2836
Michael Dorfman
Executive Vice President, Corporate Development
Tel: (416) 365-5090
Janet Reid
Manager, Investor Relations
Tel: (416) 365-2549