Business
SILVERCORP ANNOUNCES SHARE REPURCHASE PROGRAM
SILVERCORP ANNOUNCES SHARE REPURCHASE PROGRAM Canada NewsWire VANCOUVER...
About this update from Silvercorp Metals Inc.
[{"type":"text","content":"\n \n \n \n SILVERCORP ANNOUNCES SHARE REPURCHASE PROGRAM\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n Trading Symbol\n \n \n \n \n \n \n \n \n TSX:  SVM\n \n \n \n \n \n \n \n \n \n \n \n \n \n NYSE AMERICAN: SVM\n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Sept. 15, 2023\n \n \n /CNW/ - Silvercorp Metals Inc. (\"Silvercorp\" or the \"Company\") announced today a normal course issuer bid to acquire up to 8,487,191 common shares of the Company, representing approximately 4.8% of the 176,816,488 common shares issued and outstanding as of\n \n September 5, 2023\n \n . The repurchase program will run from\n \n September 19, 2023\n \n to\n \n September 18, 2024\n \n . The Company is taking this action to provide it with enhanced flexibility should market conditions result in Silvercorp's shares being undervalued relative to the value of its mining operations and corporate assets comprised of cash and cash equivalents and short-term investments of\n \n $200.6 million\n \n , in addition to investments in associates and other companies having a total market value of\n \n $71.7 million\n \n , both as at\n \n June 30, 2023\n \n .\n \n \n \n \n \n \n \n \n \n Purchases will be made at the discretion of the directors at prevailing market prices, through the facilities of the TSX, the NYSE American, and alternative trading systems in\n \n Canada\n \n and\n \n the United States\n \n , in compliance with regulatory requirements. There can be no assurance as to the precise number of shares that will be repurchased under the share repurchase program. Silvercorp may discontinue its purchases at any time, subject to compliance with applicable regulatory requirements. The Compan...