Business
SILVERCORP TO ACQUIRE ADVENTUS, CREATING A GEOGRAPHICALLY DIVERSIFIED MINING COMPANY BY ADDING THE ADVANCED EL DOMO PROJECT
SILVERCORP TO ACQUIRE ADVENTUS, CREATING A GEOGRAPHICALLY DIVERSIFIED MINING COMPANY BY ADDING TH...
About this update from Silvercorp Metals Inc.
[{"type":"text","content":"\n \n \n \n SILVERCORP TO ACQUIRE ADVENTUS, CREATING A GEOGRAPHICALLY DIVERSIFIED MINING COMPANY BY ADDING THE ADVANCED EL DOMO PROJECT\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 Symbols:\n \n \n TSX/NYSE AMERICAN: SVM\n \n \n \n TSXV: ADZN / OTCQX: ADVZF\n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n and\n \n TORONTO\n \n \n ,\n \n \n April 26, 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 that the parties have entered into a definitive arrangement agreement (the \"Arrangement Agreement\") pursuant to which Silvercorp has agreed to acquire all of the issued and outstanding common shares of Adventus (the \"Transaction\") by way of a plan of arrangement (the \"Arrangement\").\n \n \n Under the terms of the Arrangement Agreement, each holder of the common shares of Adventus (each, an \"Adventus Share\") will receive 0.1015 of one Silvercorp common share (each, a \"Silvercorp Share\") in exchange for each Adventus Share (the \"Exchange Ratio\") at the effective time of the Transaction. The Exchange Ratio implies consideration of\n \n C$0.50\n \n per Adventus Share based on the 20-day volume-weighted average prices (\"VWAP\") of Silvercorp Shares on the Toronto Stock Exchange (the \"TSX\") on\n \n April 25, 2024\n \n . This represents a premium of 31% based on the 20-day VWAP of Silvercorp on the TSX and Adventus on the TSX Venture Exchange (the \"TSXV\"), both as at\n \n April 25, 2024\n \n . The implied equity value of the Transaction is approximately\n \n C$200 million\n \n on a fully-diluted in-the-money basis. At closing, existing Silvercorp and Adventus shareholders will own approximately 81.6% and 18.4%, respectively, of Silvercorp shares outstanding on a fully-diluted in-the-money basis.\n \n \n Strategic Rationale for Silvercorp\n \n \n \n Provides immediate asset, geographic and metal diversification\n \n \n Pro forma as...