Brief: Silvercorp To Acquire Orecorp, Creating A Diversified, High Growth Precious Metals Company

Orecorp

06/08/2023 23:41

Aug 6 (Reuters) - Silvercorp Metals Inc  SVM.TO :
    * SILVERCORP TO ACQUIRE ORECORP, CREATING A DIVERSIFIED,
HIGH
GROWTH PRECIOUS METALS COMPANY
    * SILVERCORP METALS INC - ORECORP SHAREHOLDERS TO RECEIVE
A$0.15
IN CASH AND 0.0967 OF A SILVERCORP COMMON SHARE FOR EACH ORECORP
SHARE HELD
    * SILVERCORP METALS INC  SVM.TO  - ORECORP'S BOARD
UNANIMOUSLY
RECOMMENDS ORECORP SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
    * SILVERCORP METALS INC  SVM.TO  - SILVERCORP TO PROVIDE
ORECORP
WITH APPROXIMATELY A$28 MILLION IN FUNDING VIA AN EQUITY
PLACEMENT TO ADVANCE DEVELOPMENT
    * SILVERCORP METALS - EXISTING ORECORP SHAREHOLDERS WILL OWN
17.8%
OF SILVERCORP'S COMMON SHARES FOLLOWING IMPLEMENTATION OF SCHEME
    * SILVERCORP METALS INC  SVM.TO  - PROPOSED DEVELOPMENT OF
NYANZAGA BY SILVERCORP SUPPORTED BY TANZANIA GOVERNMENT
AUTHORITIES

Source text for Eikon:  ID:nCNWKplP0a 
Further company coverage:  SVM.TO 

 ((Reuters.Briefs@thomsonreuters.com;))