The deal was finalised via a court-sanctioned scheme of arrangement. Credit: A-torn Jakkawanmonthon/Shutterstock.com.

Dundee Precious Metals (DPM) has announced the completion of its acquisition of Adriatic Metals.

The deal was finalised via a court-sanctioned scheme of arrangement, having fulfilled all required prerequisites, following the submission of the approval order from the High Court of Justice in England and Wales to the Registrar of Companies for England and Wales on 29 August 2025.

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The transaction officially took effect on 3 September 2025.

The acquisition has resulted in DPM owning 100% of the issued share capital of Adriatic Metals, which owns the Vareš operation in Bosnia and Herzegovina, a producing silver-lead-zinc-gold underground mine.

DPM president and CEO David Rae said: “Today is an exciting milestone for DPM. With the addition of the Vareš operation, DPM is a premier mining business with a peer-leading growth profile and a high-quality development and exploration pipeline.

“We will be leveraging our expertise in underground mining, our regional presence, successful track record of operations, optimisation and project management, as well as our strong financial position, to further optimise and realise Vareš’ full value potential.”

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Following the acquisition, DPM has also announced its intention to change its corporate name from Dundee Precious Metals Inc. to DPM Metals Inc. The name change is set to take effect from 12 September 2025.

Additionally, the company has been approved for admission to the official list of ASX Limited (Australian Securities Exchange Limited) as an ASX Foreign Exempt Listing, with trading expected to begin on 17 September 2025 under the ticker ‘DPM’.

Bryan Cave Leighton Paisner has provided guidance to DPM on English law, while Cassels Brock & Blackwell and Gilbert + Tobin have offered advice on Canadian and Australian law, respectively.

Herbert Smith Freehills Kramer has advised Adriatic on English and Australian law, with Stikeman Elliott providing counsel on Canadian law.

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