European Bank for Reconstruction and Development makes strategic equity investment in Dundee Precious Metals

On January 24, 2017, the European Bank for Reconstruction and Development (“EBRD”) acquired, by way of non-brokered private placement, 17,843,120 common shares of Dundee Precious Metals Inc. (the “Company”), listed on the Toronto Stock Exchange, at a price of C$2.45 per share, for gross proceeds of C$43.7 million. The investment resulted in EBRD holding approximately 9.99% of the Company’s common shares (on a non-diluted basis) on closing. Proceeds will be used by the Company for the construction of the Krumovgrad project in Bulgaria. Fasken Martineau advised EBRD with a team that included Al Gourley, Jodi Katz and Vanessa McMinn.