DPM Exercises Warrants of Dunav Resources Ltd.
April 23 2012 - 6:47PM
Marketwired
In accordance with regulatory requirements, Dundee Precious Metals
Inc. ("DPM" or the "Company") (TSX:DPM)(TSX:DPM.WT)(TSX:DPM.WT.A)
announces the exercise of 9,197,500 Dunav Resources Ltd. ("Dunav")
share purchase warrants (the "Warrants") at $0.42 each.
As a result of the Warrant exercise, DPM now holds 56,455,422
common shares, representing a 47.3% interest in Dunav, on an
undiluted basis, and 27,592,509 Warrants, which are subject to
escrow. Assuming the exercise of the Warrants, DPM would hold a
57.2% interest in Dunav, on a partially diluted basis.
The above noted securities are held for investment purposes.
These investments will be reviewed on a continuing basis and such
holdings may be increased or decreased in the future.
Dundee Precious Metals Inc. is a well-financed, Canadian based,
international gold mining company engaged in the acquisition,
exploration, development, mining and processing of precious metals.
The Company's principal operating assets include the Chelopech
operation, which produces a gold, copper and silver concentrate,
located east of Sofia, Bulgaria; the Kapan operation, which
produces gold, copper, zinc and silver concentrate, located in
southern Armenia; and the Tsumeb smelter, a concentrate processing
facility located in Namibia. DPM also holds interests in a number
of developing gold properties located in Bulgaria, Serbia, and
northern Canada, including interests held through its 51.4% owned
subsidiary, Avala Resources Ltd., its 47.3% interest in Dunav
Resources Ltd. and its 11.5% interest in Sabina Gold & Silver
Corp.
FORWARD-LOOKING STATEMENTS
This news release may contain certain information that
constitutes forward-looking statements. Forward-looking statements
are frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the opinions
and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
These factors include the inherent risks involved in the
exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices and other factors
described above and in the Company's most recent annual information
form under the heading "Risk Factors" which has been filed
electronically by means of the Canadian Securities Administrators'
website located at www.sedar.com. The Company disclaims any
obligation to update or revise any forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on
forward-looking statements.
Contacts: Dundee Precious Metals Inc. Jonathan Goodman President
& Chief Executive Officer (416)
365-2408jgoodman@dundeeprecious.com Dundee Precious Metals Inc.
Lori Beak, Senior Vice President, Investor Relations &
Corporate Secretary (416) 365-5165lbeak@dundeeprecious.com
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