VANCOUVER, BC, July 5, 2024 /PRNewswire/ – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX: SVM) (NYSE American: SVM) today provided an update regarding its proposed acquisition of Adventus Mining Corporation (“Adventus”).
As announced in the Company’s April 26, 2024 news release, the Company has entered into an arrangement agreement (the “Arrangement Agreement”) with Adventus pursuant to which the Company agreed to acquire all of the issued and outstanding common shares of Adventus by way of a plan of arrangement, subject to the satisfaction of certain conditions (the “Transaction”). One of those conditions is the absence of any Material Adverse Effect (as defined in the Arrangement Agreement”) in respect of Adventus. The Company has determined that such a Material Adverse Effect has arisen.
The Material Adverse Effect arises from the litigation referred to in the Adventus news release of June 17, 2024, which seeks to…
