SVM - Silvercorp Metals will buy OreCorp for A$0.60 per share

2023-08-07 05:48:24 ET

Silvercorp Metals ( NYSE: SVM ) will acquire all fully-paid shares of OreCorp that are not held by Silvercorp or its associates.

OreCorp shareholders to receive A$0.15 in cash and 0.0967 of a Silvercorp ( SVM ) share (valued at A$0.45) for each OreCorp Share held, representing total consideration with an implied value of A$0.60 per OreCorp share.

Silvercorp ( SVM ) to provide OreCorp with ~A$28M in funding via an equity placement.

OreCorp holds an 84% interest in the Nyanzaga Gold Project located in the Mwanza region, Tanzania, in partnership with the Government of Tanzania.

For further details see: