Silvercorp Announces Share Repurchase Program

About this update from Silvercorp Metals Inc.

[{"type":"text","content":"\n\n\n\nSilvercorp Announces Share Repurchase Program\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 23, 2017\n\n\n\nTrading Symbol: TSX: SVMNYSE AMERICAN: SVM                  \n\n\n\nVANCOUVER, Nov. 23, 2017 /CNW/ - Silvercorp Metals Inc. (\"Silvercorp\" or the \"Company\") is pleased to announce a Normal Course Issuer Bid to acquire up to 8,409,712, common shares, representing approximately 5% the 168,194,254 common shares issued and outstanding as of November 16, 2017.  The repurchase program will run from November 27, 2017 to November 26, 2018.  The Company is taking this action because it believes that prevailing market conditions have resulted in Silvercorp's shares being undervalued relative to the immediate and long term value of Silvercorp's portfolio of producing properties in China and other strategic investments.\n\nPurchases 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 platforms in Canada and the United States, 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 Company intends to hold all shares acquired under the issuer bid for cancellation. \n\nDirectors and senior officers of the Company are not aware of any previously undisclosed material changes or plans or proposals for material changes in the affairs of the Company, nor do any of them have the present intention to sell shares of the Company during the Normal Course Issuer Bid.   The Company has not repurchased any of its common shares in the last twelve month period.\n\nThe maximum number of shares that may be purchased on the TSX during any trading day may not exceed 25% of the average daily trading volume on t...

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