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Silvercorp Receives Tanzanian FCC Approval and Provides Further Updates on OreCorp Offer
Silvercorp Receives Tanzanian FCC Approval and Provides Further Updates on OreCorp Offer ...
About this update from Silvercorp Metals Inc.
[{"type":"text","content":"\n \n \n \n Silvercorp Receives Tanzanian FCC Approval and Provides Further Updates on OreCorp Offer\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 Trading Symbol:\n \n \n TSX:\n \n \n SVM\n \n \n \n NYSE AMERICAN: SVM\n \n \n \n \n \n FCC Provides Unconditional Approval for Proposed Orecorp Transaction\n \n \n \n \n \n \n Independent Expert Appointed by Orecorp Concludes That the Silvercorp Offer Is Fair and Reasonable To Orecorp Shareholders, In The Absence Of A Superior Proposal\n \n \n \n \n \n \n Each Orecorp Director Has Accepted the Silvercorp Offer\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 1, 2024\n \n \n /CNW/ - Silvercorp Metals Inc. (\"Silvercorp\" or the \"Company\") (TSX: SVM) (NYSE American: SVM) today announced the Company received a Merger Clearance Certificate (dated\n \n January 30, 2024\n \n ) from the Tanzanian Fair Competition Commission (the \"FCC\") providing unconditional merger control approval for the proposed transaction with OreCorp Limited (\"OreCorp\") by way of Silvercorp's off-market takeover offer (the \"Silvercorp Offer\"), for all of the OreCorp shares not already owned by Silvercorp for consideration comprising 0.0967 common shares of Silvercorp and\n \n A$0.19\n \n cash per OreCorp share (the \"Transaction\"). The FCC approval represents the sole Tanzanian regulatory requirement needed to complete the Transaction. This approval means that the potential breach of the \"no regulatory action\" condition in paragraph (c) of Appendix 2 of Silvercorp's Replacement Bidder's Statement dated January 16, 2024 ceases to exist.\n \n \n \n \n \n \n \n \n \n The Company would like to thank the FCC for providing support throughout the expedited approval process. The Company would also like to express its appreciation to the Tanzanian Honourable Minister for Minerals, Permanent Secretary for Minerals, Treasury Registrar and the Tanzanian Mining Commission, all of whom have expressed support to Silvercorp and OreCorp.\n \n \n \n Release of Target Statement\n \n \n \n OreCorp h...