Dundee Precious Metals Announces Renewal of Normal Course Issuer Bid

TORONTO, Feb. 25, 2021 (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 repurchase certain of its common shares (“Shares”) through the facilities of the TSX. The Company commenced a normal course issuer bid (the “Current Bid”) on February 28, 2020, which terminates on February 27, 2021. Under the Current Bid, the Company sought and obtained approval to purchase up to 9 million Shares. Based on the Company’s disciplined approach to capital management, the directors considered it to be in the best interests of shareholders to return capital through the initiation of a quarterly dividend beginning in 2020 and as a result, the Company did not make any purchases under the Current Bid.

The number of Shares that can be purchased during the period of the New Bid, which commences on March 1, 2021 and terminates on February 28, 2022, will not exceed 9 million Shares, being approximately 5% of the 181,510,125 outstanding Shares as of February 23, 2021. 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 182,760 Shares, representing 25% of the average daily trading volume of Shares for the most recently completed six month period, being 731,040 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. 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 and Serbia. The Company’s purpose is to unlock resources and generate value to thrive and growth 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 DPM delivers value for all of its stakeholders. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).