Dundee Precious Metals Inc.

TSX: DPM, DPM.WT, DPM.WT.A


Feb 22, 2010 07:59 ET
TORONTO, ONTARIO–(Marketwire – Feb. 22, 2010) –

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Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT)(TSX:DPM.WT.A) (“DPM” or the “Company”) is pleased to announce that it has completed its previously announced bought deal equity financing (the “Offering”) for gross proceeds to the Company of C$66,000,000. A syndicate of underwriters led by GMP Securities L.P. and including Cormark Securities Inc., Dundee Securities Corporation, BMO Nesbitt Burns Inc. and Union Securities Ltd., purchased an aggregate of 20,000,000 common shares (the “Common Shares”) at a price of C$3.30 per Common Share.

The Company intends to use the net proceeds of the Offering for ongoing operating and working capital requirements, capital expenditures (including the payment of cash consideration and capital expenditures to sustain operations on the Tsumeb smelter, project capital for the Chelopech mine expansion and the deposit of a portion of the financial guarantee for environmental and rehabilitation costs for the Chelopech mine and facilities) and general corporate purposes.

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For more information, please contact

Dundee Precious Metals Inc.
Jonathan Goodman
President & Chief Executive Officer
(416) 365-2408
jgoodman@dundeeprecious.com
or
Dundee Precious Metals Inc.
Stephanie E. Anderson
Executive Vice President & CFO
(416) 365-2852
sanderson@dundeeprecious.com
or
Dundee Precious Metals Inc.
Lori Beak
Vice President, Investor Relations & Corporate Secretary
(416) 365-5165
lbeak@dundeeprecious.com

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Dundee Precious Metals Inc. Completes C$66 Million Offering

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