NEWS: Update on the Acquisition of Adventus Mining Corporation
Silvercorp Metals has provided an update on its proposed acquisition of Adventus Mining. The acquisition, initially announced on April 26, 2024, involves Silvercorp purchasing all outstanding shares of Adventus. However, a Material Adverse Effect has arisen due to litigation seeking to void the environmental license of Adventus's Curipamba-El Domo project. Silvercorp has analyzed the litigation and concluded it constitutes a Material Adverse Effect. The company will continue to evaluate the situation and is open to extending the July 31 deadline for closing the acquisition.
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