Dundee Precious Metals Announces Renewal of Normal Course Issuer Bid

TORONTO, March 14, 2024 (GLOBE NEWSWIRE) -- 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 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, 2025, will not exceed 15.5 million Shares, being approximately 9.8% of the Company’s public float of Common Shares as of March 6, 2024. 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 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 securities 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.