Skip to main content

Silvercorp Metals Inc(SVM-T)

Today's Change
Real-Time Last Update

Silvercorp Receives Tanzanian FCC Approval and Provides Further Updates on OreCorp Offer - Thu Feb 1, 7:46PM CST

Trading Symbol:  TSX: SVM
                              NYSE AMERICAN: SVM

VANCOUVER, BC, Feb. 1, 2024 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) today announced the Company received a Merger Clearance Certificate (dated January 30, 2024) 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 A$0.19 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.


Provided Content: Content provided by The Globe and Mail was not involved, and material was not reviewed prior to publication.

More from The Globe

25 stocks most added to Watchlists