DPM Dundee Precious Metals Inc

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED
STATES WIRE SERVICES


Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT.A) ("DPM" or the "Corporation")
is pleased to announce that, at today's meetings, both shareholders and
warrantholders of the Corporation voted overwhelmingly in favour of its proposal
to implement a warrant incentive program designed to encourage the early
exercise of its listed warrants (the "Warrants").


The 30-day period for the early exercise of the Warrants will commence at 9:00
a.m. (Toronto time) on Friday, May 10, 2013 and will expire at 5:00 p.m.
(Toronto time) on Monday, June 10, 2013 (the "Early Exercise Period").


Registered holders of Warrants are encouraged to exercise their Warrants in
accordance with the procedures set forth below as soon as possible and, in any
event, prior to 5:00 p.m. (Toronto time) on Monday, June 10, 2013 in order to
acquire one common share of the Corporation issuable upon exercise of each
Warrant at the reduced exercise price of Cdn$2.85, rather than the current
exercise price of Cdn$3.25.


Non-registered holders of Warrants, whose Warrants are registered in the name of
a brokerage firm, bank or trust company or other intermediary through which they
purchased the Warrants should contact their intermediaries for instructions on
how to exercise their Warrants.


Registered holders of Warrants may exercise their rights to acquire the above
noted common shares by surrendering the certificates representing their Warrants
to Computershare Trust Company of Canada at any time prior to 5:00 p.m. (Toronto
time) on Monday, June 10, 2013, by hand or courier at its offices located at 100
University Ave., 9th Floor, Toronto, Ontario, M5J 2Y1. The warrant certificate
must be submitted together with: (i) a duly completed and executed subscription,
in the form on the back of the warrant certificate or in the form that will be
mailed to registered warrantholders with the Notice to warrantholders regarding
the commencement of the Early Exercise Period, dated Friday, May 10, 2013 (the
"Notice"), specifying the number of Warrants that the holder intends to
exercise; (ii) in the case of a warrantholder (A) who is in the United States,
or (B) who is a U.S. Person (as defined in Regulation S promulgated under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act")) or
who holds a Warrant for the account or benefit of a U.S. Person or a person in
the United States, (X) a duly completed and executed representation letter in
the form that will be mailed to registered warrantholder with the Notice, or (Y)
a written opinion of counsel of recognized standing in form and substance
satisfactory to the Corporation to the effect that an exception from the
registration requirements of the U.S. Securities Act and applicable state
securities laws is available for the issuance of the common shares of the
Corporation issuable on exercise of the Warrants; and (iii) a certified cheque,
bank draft or money order in Canadian dollars, payable to or to the order of the
Corporation in an amount equal to the reduced exercise price of Cdn$2.85
multiplied by the number of Warrants that the warrantholder intends to exercise.


Warrantholders who do not exercise their Warrants during the Early Exercise
Period will, subject to adjustment, continue to be entitled to receive one
common share of the Corporation upon exercise of a Warrant and payment of the
current exercise price of Cdn$3.25 prior to 5:00 p.m. (Toronto time) on November
20, 2015.


Dundee Securities Ltd. and GMP Securities L.P. ("GMP") are acting as financial
advisors to the Corporation with respect to the warrant transaction. GMP also
provided a fairness opinion to the board of directors indicating that the
exercise price reduction is fair, from a financial point of view, to both
warrantholders and shareholders.


The common shares to be issued upon exercise of the Warrants have not been and
will not be registered under the U.S. Securities Act or any state securities
laws and may not be offered or sold within the United States or to, or for the
account or benefit of, U.S. Persons unless registered under the U.S. Securities
Act and applicable state securities laws or an exemption therefrom is available.


About DPM

Dundee Precious Metals Inc. is a Canadian based, international gold mining
company engaged in the acquisition, exploration, development, mining and
processing of precious metals. The Corporation'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
53.1% owned subsidiary, Avala Resources Ltd., its 45.5% interest in Dunav
Resources Ltd. and its 10.7% interest in Sabina Gold & Silver Corp.


FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" that involve a number of
risks and uncertainties. Forward-looking statements include, but are not limited
to, statements with respect to the Warrant Amendment, future growth
opportunities, the future price of gold and silver, the estimation of mineral
reserves and resources, the realization of mineral estimates, the timing and
amount of estimated future production and output, costs of production, capital
expenditures, costs and timing of the development of new deposits, success of
exploration activities, permitting time lines, currency fluctuations,
requirements for additional capital, government regulation of mining operations,
environmental risks, unanticipated reclamation expenses, title disputes or
claims, limitations on insurance coverage and timing and possible outcome of
pending litigation. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on the opinions and estimates of management
as of the date such statements are made, and they involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Corporation to be materially different from
any other future results, performance or achievements expressed or implied by
the forward-looking statements. Such factors include, among others: the
availability of future growth opportunities, the actual results of current
exploration activities; actual results of current reclamation activities;
conclusions of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of gold, copper, zinc and silver; possible
variations in ore grade or recovery rates; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes and other risks
of the mining industry; delays in obtaining governmental approvals or financing
or in the completion of development or construction activities, fluctuations in
metal prices, as well as those risk factors discussed or referred to in
documents filed from time to time with the securities regulatory authorities in
all provinces and territories of Canada and available at www.sedar.com. 

Although the Corporation has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or intended. There
can be no assurance that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in such statements. Unless required by securities laws, the
Corporation undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change. Accordingly,
readers are cautioned not to place undue reliance on forward-looking statements.


This press release is not an offer of securities for sale in the United States.
The securities have not been and will not be registered under the U.S.
Securities Act of 1933. Securities may not be offered or sold in the United
States absent registration or an exemption from registration. Any public
offering of securities that may be made in the United States will be made by
means of a prospectus that may be obtained from the issuer and that will contain
detailed information about the Corporation and management, as well as financial
statements.




       IF YOU HAVE ANY QUESTIONS OR REQUIRE ASSISTANCE CONCERNING THE       
             EARLY EXERCISE WARRANT TRANSACTION, PLEASE CONTACT:            
                                                                            
                     KINGSDALE SHAREHOLDER SERVICES INC.                    
                North America Toll-Free Phone: 1-866-581-0512               
              Outside North America Call Collect: 416-867-2272              
                 E-mail: contactus@kingsdaleshareholder.com                 



FOR FURTHER INFORMATION PLEASE CONTACT: 
Dundee Precious Metals Inc.
Richard Howes
President & Chief Executive Officer
(416) 365-2836


Dundee Precious Metals Inc.
Lori Beak
Senior Vice President, Investor & Regulatory Affairs and
Corporate Secretary
(416) 365-5165

Dundee Precious Metals (TSX:DPM)
Historical Stock Chart
From Jun 2024 to Jul 2024

Dundee Precious Metals (TSX:DPM)
Historical Stock Chart
From Jul 2023 to Jul 2024