INV Metals Shareholders Overwhelmingly Approve Arrangement

TORONTO, July 20, 2021 (GLOBE NEWSWIRE) -- INV Metals Inc. (“INV Metals” or “the Company”) (TSX:INV) is pleased to announce that at an annual general and special meeting of its shareholders held today (the “Meeting”), the shareholders overwhelmingly approved the previously announced plan of arrangement (the “Arrangement”) with Dundee Precious Metals Inc. (“DPM”).

Pursuant to the Arrangement, DPM will acquire all of the issued and outstanding common shares of INV Metals (“INV Shares”) by way of a statutory plan of arrangement under the Business Corporations Act (Ontario), other than INV Shares owned by DPM. Each INV Metals shareholder (other than DPM) will receive 0.0910 of a DPM common share for each INV Share held.

INV Metals intends to seek a final order of the Ontario Superior Court of Justice (Commercial List) to approve the Arrangement at a hearing expected to be held on July 22, 2021. Subject to obtaining all required approvals and satisfying all required conditions, the Arrangement, which was amended by the parties prior to the Meeting to include an amalgamation of the Company and certain of its subsidiaries as the first step, is expected to close on or about July 26, 2021.

Detailed voting results regarding approval of the special resolution in connection with the Arrangement and other matters considered at the Meeting are set out below:

Arrangement Resolution

	Votes For	% For		Votes Against	% Against
Approval of Arrangement by shareholders	120,878,899	99.99%		13,800	0.01%
Approval of Arrangement by majority of the minority	79,398,523	99.98%		13,800	0.02%

Election of Directors

Nominee	Votes For	% For	Votes Withheld	% Withheld
Parviz Farsangi	120,890,391	99.99%	2,308	0.01%
Eric Klein	120,848,479	99.96%	44,220	0.04%
Candace MacGibbon	120,860,187	99.97%	32,512	0.03%
Terrance MacGibbon	120,793,779	99.92%	98,920	0.08%
Robert Pollock	120,890,391	99.99%	2,308	0.01%
David Rae	120,877,890	99.99%	14,809	0.01%
Robin Weisman	120,859,178	99.97%	33,521	0.03%

Additional Resolutions