Pursuant to the terms of the Arrangement Agreement, DPM had previously agreed to acquire all of the issued and outstanding common shares of Osino for consideration of
After thorough review and analysis, and in consultation with its advisors, the Company’s board of directors has determined that the Company will not propose to amend the terms of the Arrangement Agreement and accordingly, the Company has delivered notice of such decision to Osino.
“DPM continues to benefit from strong free cash flow from our existing operations, and we have an attractive organic growth pipeline including the high-grade Čoka Rakita gold project in
In the event Osino terminates the Arrangement Agreement in order to enter into a binding agreement with the Offeror in respect of the New Proposal, Osino will be required to pay to DPM a termination fee in the amount of C$10.0 million. DPM currently holds 12,699,157 common shares of Osino.
About
For further information please contact:
President and Chief Executive Officer Tel: (416) 365-5191 investor.info@dundeeprecious.com | Director, Investor Relations Tel: (416) 219-6177 jcameron@dundeeprecious.com |
Cautionary Note Regarding Forward Looking Statements
This news release contains “forward looking statements” or “forward looking information” (collectively, “Forward Looking Statements”) that involve a number of risks and uncertainties. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as “plans”, “expects”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” and similar words, or variations of such words and phrases, or that state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward Looking Statements in this news release relate to, among other things, the potential termination of the Arrangement Agreement and Osino’s payment of a termination fee (in the amount of C$10.0 million) to the Company and the timing of the preliminary economic assessment for the Čoka Rakita gold project. Forward Looking Statements are based on certain key assumptions and 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 Company 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, changes in market and other conditions and other risks and factors discussed or referred to in the latest annual information form and management’s discussion and analysis and other recent public disclosure of the Company filed from time to time with the securities regulatory authorities in all provinces and territories of
The Forward Looking Statements in this news release reflect current expectations regarding future events and speak only as of the date hereof. There can be no assurance that such Forward Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Other than as it may be required by law, the Company 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.
There can be no assurance that the Arrangement Agreement and the transactions contemplated therein will be terminated as anticipated and/or that such transactions will be completed in accordance with the terms of the Arrangement Agreement, or at all.
1 Based on the 5-day volume-weighted average trading price of DPM shares on the TSX for the period ended
Source:
2024 GlobeNewswire, Inc., source