July 31, 2017 / 11:16 AM / 24 days ago

BRIEF-Dundee Precious Metals has entered into a definitive agreement with Minerp Holdings Proprietary Ltd

July 31 (Reuters) - Dundee Precious Metals Inc

* Has entered into a definitive agreement with Minerp Holdings Proprietary Limited

* Dundee Precious Metals - As per agreement, co will combine its proprietary wireless underground communications technology with Minerp

* Dundee Precious Metals Inc - ‍DPM will transfer terrative into a new canadian subsidiary of DPM and provide initial funding of $20 million​

* As per agreement, co will acquire a majority interest in Minerp

* Dundee Precious Metals Inc - ‍Proceeds will be used to acquire an initial 78% interest in common shares of Newco, repay existing Minerp indebtedness​

* Dundee Precious Metals - Also agreed to provide Newco or its subsidiaries with up to $5 million of additional financing to support its working capital

* Dundee Precious Metals - Financial position will remain strong with ample cash resources, including about $250 million under committed revolving credit facility​ Source text for Eikon: Further company coverage:

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