November 20, 2008
On November 20, 2008, Dundee Precious Metals Inc. (TSX: DPM) completed an offering of units for gross proceeds of $80,001,000. The units were sold through a syndicate of underwriters co-led by GMP Securities L.P. and Dundee Securities Corporation and including BMO Capital Markets. Each unit consisted of one common share and one-half of one common share purchase warrant with each warrant entitling the holder to subscribe for an additional common share of the Company for a period of seven years at an exercise price of $3.25 per share. The Company has granted the underwriters an over-allotment option to purchase up to 5,333,000 units, exercisable at any time up to 30 days from the closing of the offering. The warrants are listed on the Toronto Stock Exchange under the symbol DPM.WT.A-T.
The net proceeds of the offering are to be used for ongoing operating and working capital requirements, potential strategic arrangements, capital expenditures, including project capital for the Chelopech mine expansion, and general corporate purposes.
Wildeboer Dellelce LLP acted for the underwriters in connection with the offering with a team that included Derek Sigel, Lisa Cunningham, Anndra Schwartz (corporate/securities) and Andrea Shreeram (tax).