Business
SILVERCORP COMPLETES ACQUISITION OF ADVENTUS
SILVERCORP COMPLETES ACQUISITION OF ADVENTUS Canada NewsWire VANCOUVER, BC ...
About this update from Silvercorp Metals Inc.
[{"type":"text","content":"\n\n\n\n SILVERCORP COMPLETES ACQUISITION OF ADVENTUS\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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n and\n \n TORONTO\n \n\n ,\n \n\n July 31, 2024\n \n\n /CNW/ -\n \n Silvercorp Metals Inc.\n \n (\"Silvercorp\") (TSX: SVM) (NYSE American: SVM) and\n \n Adventus Mining Corporation\n \n (\"Adventus\") (TSXV: ADZN) (OTCQX: ADVZF) are pleased to announce, further to the news releases of Silvercorp and Adventus dated\n \n April 26, 2024\n \n and\n \n July 31, 2024\n \n , the completion of Silvercorp's previously announced acquisition of all of the outstanding common shares of Adventus (\"\n \n Adventus Shares\n \n \") effective as of\n \n 12:01 a.m.\n \n (the \"\n \n Effective Time\n \n \") today by way of a statutory plan of arrangement under the provisions of the\n \n Canada Business Corporations Act\n \n (the \"\n \n Arrangement\n \n \").\n \n\n\n\n\n\n\n\n\n Under the terms of the Arrangement, each former shareholder of Adventus, other than Silvercorp, is entitled to receive 0.1015 of one Silvercorp common share (a \"\n \n Silvercorp Share\n \n \") for each Adventus Share (the \"\n \n Exchange Ratio\n \n \"). All outstanding Adventus stock options and warrants are now exercisable for Silvercorp Shares, with the number of Silvercorp Shares issuable on exercise and the exercise price adjusted in accordance with the Exchange Ratio. All outstanding Adventus restricted share units vested as of the Effective Time and have been settled in cash, funded by Silvercorp through Adventus.\n \n\n With the Arrangement now complete, Adventus intends to cause the Adventus Shares to be delisted from the TSX Venture Exchange as soon as reasonably practicable following the closing of the Arrangement. In connection therewith, Adventus intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.  Adventus' President and CEO,\n \n Christian Kargl-Simard\n \n , and\n \n Frances Kwong\n \n , CFO and Corporate Secretary, have agreed to stay...