TORONTO, Dec. 22, 2020 (GLOBE NEWSWIRE)
Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) today announced that DPM and other shareholders (collectively, “the Vendors”) of MineRP Holdings Inc. (“MineRP”) have entered into a definitive agreement for the sale of 100% of MineRP (the “Transaction”) to Epiroc Canada Holding Inc., a subsidiary of Epiroc Rock Drills AB (“Epiroc” or “the Purchaser”).
Consideration for DPM’s fully-diluted 70% equity interest in MineRP and the repayment of DPM shareholder loans include:
Approximately US$40 million in cash representing the estimated portion payable to DPM on closing of the Transaction (“DPM’s Closing Proceeds”); and
Potential additional payments in the form of an earn-out of up to US$28.7 million representing the portion payable to DPM upon the achievement of certain MineRP revenue targets in 2021 and 2022 (the “Earn-out”).