- Dundee Precious Metals (DPM) has closed its sale of MineRP Holdings
- The company sold MineRP to Epiroc Canada MineRP Holding, a subsidiary of Epiroc Rock Drills AB
- The deal is for approximately C$41 million
- Dundee also retains potential additional proceeds in the form of an earn-out conditional on the achievement of certain revenue targets by MineRP in 2021 and 2022
- Dundee Precious Metals is up 6.78 per cent on the day, with shares trading at $9.45 at 1:40 pm ET
The company sold MineRP to Epiroc Canada MineRP Holding, a subsidiary of Epiroc Rock Drills AB.
Under the terms of agreement, consideration for Dundee Precious Metals’ 73.7 per cent equity interest in MineRP and the repayment of the company’s shareholder loans consists of approximately C$41 million in cash on closing subject to a working capital adjustment following closing.
Dundee also retains potential additional proceeds in the form of an earn-out conditional on the achievement of certain revenue targets by MineRP in 2021 and 2022.
“We are pleased to conclude the sale of MineRP following our investment in this technology in support of our innovation strategy. The proceeds from this transaction, together with potential additional proceeds under the earn-out, will further strengthen our balance sheet and support our mining business going forward. We would like to wish MineRP and Epiroc well in taking the business to the next level,” said Dundee Precious Metals President and Chief Executive Officer David Rae.
Dundee Precious Metals is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Namibia and Serbia. The company’s purpose is to unlock resources and generate value to thrive and growth together.
Dundee Precious Metals is up 6.78 per cent on the day, with shares trading at $9.45 at 1:40 pm ET.