Precious Metals
Dundee Precious Metals acquires INV Metals
TORONTO – Dundee Precious Metals Inc. (TSX:DPM) reported the successful completion of its previously announced acquisition of INV Metals Inc. pursuant…

TORONTO – Dundee Precious Metals Inc. (TSX:DPM) reported the successful completion of its previously announced acquisition of INV Metals Inc. pursuant to a court-approved plan of arrangement. Pursuant to the Arrangement, each former INV Metals shareholder is entitled to receive 0.0910 of a DPM common share for each INV Metals common share held.
DPM has acquired all of the outstanding common shares of INV Metals which it did not already own. Following the completion of the acquisition, DPM has 192,691,628 common shares issued and outstanding, of which approximately 5.5% are owned by former INV shareholders.
“Loma Larga is a high-quality development project with the potential to add meaningful production growth to our portfolio and generate significant value for our stakeholders. The project is well-aligned with our proven strengths as an environmentally and socially responsible mining company, and we look forward to engaging with all national and local stakeholders,” said David Rae, DPM’s President and Chief Executive Officer.
“Our approach to developing the Loma Larga project will reflect our firm commitment to the highest standards for engagement with local communities and environmental stewardship, and will leverage our technical depth, financial strength and our strong track record of delivering innovative solutions to unlock Loma Larga’s significant potential for the benefit of all stakeholders.”
The Loma Larga gold project is well-aligned with DPM’s core strengths and unique capabilities to unlock value. The Project has similar geology and is expected to have a similar mining method and processing flowsheet to the Chelopech mine, which DPM has developed into a modern and efficient underground mine. DPM intends to further engage with all stakeholders, as it did prior to the development of its Ada Tepe mine, which is now a highly successful DPM operation that enjoys strong support from both local communities and the national government in Bulgaria.
DPM intends to cause INV Metals to delist its common shares from the Toronto Stock Exchange, to submit an application for it to cease to be a reporting issuer, and to otherwise terminate its public company reporting requirements as soon as possible thereafter. The common shares of DPM issued under the Arrangement are expected to be listed and posted for trading on the TSX on or about July 27, 2021.
Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Namibia, Serbia and Ecuador. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).
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