Dundee Precious Metals Announces Approval to Renew Normal Course Issuer Bid as Part of Enhanced Shareholder Buyback Program

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[{"type":"text","content":" TORONTO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (the “Company” or “DPM”) 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 “Current Bid”) on March 1, 2022, which terminates on February 28, 2023. Under the Current Bid, the Company sought and obtained approval to purchase up to 9 million Shares. As at February 16, 2023, the Company had purchased 982,400 Shares under the Current Bid and a total of 2,471,500 Shares in 2022. The number of Shares that may be purchased during the period of the New Bid, which commences on March 1, 2023 and terminates on February 29, 2024, will not exceed 16.5 million Shares, being approximately 10% of the public float as of February 16, 2023. 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 112,323 Shares, representing 25% of the average daily trading volume of Shares for the most recently completed six-month period, being 449,293 Shares, other than block purchase exceptions. As previously disclosed, DPM’s Board of Directors has authorized the repurchase of up to US$100 million of the Company’s outstanding shares for a period of 12 months, subject to certain internal parameters. 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. The Company has re-appointed RBC Capital Markets to make any purchases under the New Bid on its behalf. The actu...

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