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Dundee Precious Metals Announces Acquisition of INV Metals Toronto , May 31 , 2021 - Dundee Precious Metals Inc. ( TSX : DPM ) ( “ DPM " ) is pleased to announce that it has entered into a definitive agreement ( the " Arrangement Agreement " ) with INV Metals Inc. ( " INV Metals " ) whereby DPM will acquire all of the issued and outstanding shares of INV Metals that DPM does not currently own pursuant to a court - approved plan of arrangement ( the " Transaction " ) . DPM currently owns 35,344,424 common shares of INV Metals , or approximately 23.5 % of outstanding INV Metals common shares . ● Highlights of the Transaction Under the terms of the Transaction , each of the issued and outstanding common shares of INV Metals that DPM does not currently own will be exchanged for 0.0910 of a DPM common share . ● Dundee ● PRECIOUS METALS ● The Transaction has strong shareholder support , with management and directors of INV Metals and IAMGOLD Corporation ( " IAMGOLD " ) entering into voting support agreements representing , in aggregate , approximately 47 % of the outstanding common shares of INV Metals . The exchange ratio implies consideration of C $ 0.80 per INV Metals common share based on the preceding 5 - day volume - weighted average price ( " VWAP " ) of DPM on the Toronto Stock Exchange ( " TSX " ) for the period ending May 28 , 2021. This represents a 63 % premium to the closing price of INV Metals common shares on the TSX on May 28 , 2021 . The implied equity value of the Transaction on a 100 % and fully - diluted basis is equal to approximately C $ 132 million and C $ 104 million for the portion not owned by DPM . Upon completion of the Transaction , existing DPM and INV Metals shareholders will own approximately 94.5 % and 5.5 % of the pro forma company , respectively . Strategic Rationale for DPM The Loma Larga gold - copper - silver project ( " Loma Larga ” " or " the Project " ) is well - aligned with DPM's core strengths and unique capabilities to unlock value : Similar geology , mining method and processing flow sheet to DPM's Chelopech underground copper - gold mine , which DPM has developed into a world - class , modern operation ; The Project will benefit from additional engagement with local stakeholders as was also the case in the initial stages of development for Ada Tepe , which is now a highly successful DPM operation that enjoys strong support from local communities ; and A portion of the production includes complex concentrate , which can be processed at DPM's Tsumeb smelter or other outlets . 1