TORONTO, Oct. 25, 2017 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc.(TSX:DPM) (“DPM”) is pleased to announce that it has completed the previously announced acquisition of MineRP Holdings Proprietary Limited (“MineRP”) and combination with its Terrative Digital Solutions Division (“Terrative”).

DPM acquired a 78% interest in the common shares of MineRP Holdings Inc. (“MineRP Holdings”), a new Canadian subsidiary, which holds all of the shares of MineRP, in exchange for an investment of approximately US$20 million in cash and the transfer of the assets held within Terrative.

“We are pleased to announce that the transaction between DPM and MineRP has been completed,” stated Rick Howes, President and CEO. “The combination of Terrative and MineRP will create a leading technology provider well positioned to further capture the rapidly growing demand in the mining industry for digital innovation,” added Mr. Howes.

Up to 10% of the fully-diluted common shares of MineRP Holdings will be reserved for incentive compensation arrangements, with up to half being allocated to certain officers of DPM who will serve as directors/officers of MineRP Holdings and half being reserved for issuance to MineRP employees. As a result, assuming the issuance of all common shares reserved under the foregoing incentive arrangements, DPM will hold a 70% fully-diluted interest in the common shares of MineRP Holdings. Going forward, DPM has also agreed to provide MineRP Holdings with up to US$5 million of additional financing to support its working capital and growth initiatives. MineRP Holdings’ day-to-day operations will be conducted by the current management of MineRP.   

About Dundee Precious Metals

Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged in the acquisition of mineral properties, exploration, development, mining and processing of precious metals. The Company's operating assets include the Chelopech operation, which produces a copper concentrate containing gold and silver and a pyrite concentrate containing gold, located east of Sofia, Bulgaria; and the Tsumeb smelter, a complex copper concentrate processing facility located in Namibia. DPM also holds interests in a number of developing gold and exploration properties located in Bulgaria, Serbia, Armenia and Canada, including the Krumovgrad gold project, which started construction in the fourth quarter of 2016 and is expected to commence production in the fourth quarter of 2018, and its 10.4% interest in Sabina Gold & Silver Corp.

About MineRP

MineRP, a private company founded in 1997 and headquartered in South Africa, is an independent software vendor (“ISV”) for the mining industry. Its unique platform improves productivity in planning and operations by integrating various technical and financial applications in the industry.

About Terrative Digital Solutions

Established in 2016, Terrative is a division of DPM which owns and sells proven, proprietary underground technology solutions to customers within the mining sector.

FORWARD-LOOKING STATEMENTS

This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, without limitation, uncertainties with respect to the inherent risks involved in successfully integrating MineRP's business with Terrative and DPM's overall business, the uncertainties with respect to realizing the projected synergies with MineRP, risks relating to operating a business reliant on the ownership and protection of key intellectual property, risks of unavailability of human capital and financial resources to grow the business, increased exposure to business risks related to cyber security and other factors described above and in the Company's most recent annual information form under the heading "Risk Factors" which has been filed electronically by means of the Canadian Securities Administrators' website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

For more information, please contact:

Dundee Precious Metals Inc.
Janet Reid
Manager, Investor Relations
(416) 365-2549
moc.suoicerpeednud@dierj