Dundee will not submit revised offer in response to proposal notice from Osino

Dundee Precious Metals (DPMLF) acknowledged receipt of notice from Osino Resources (OSIIF) that a foreign-based mining company has made a binding proposal to acquire all of the issued and outstanding common shares of Osino for a purchase price of C$1.90 per share payable in cash. Osino has further advised DPM that its board of directors has determined that the New Proposal constitutes a “Superior Proposal” as defined in the arrangement agreement between DPM and Osino dated December 17, 2023. Pursuant to the terms of the Arrangement Agreement, DPM had previously agreed to acquire all of the issued and outstanding common shares of Osino for consideration of C$0.775 in cash per Osino share and 0.0801 of a DPM common share per Osino share, with an implied value of C$1.55 per Osino share. After thorough review and analysis, and in consultation with its advisors, the Company’s board of directors has determined that the Company will not propose to amend the terms of the Arrangement Agreement and accordingly, the Company has delivered notice of such decision to Osino.