Silvercorp Metals Inc. (TSX/NYSE American: SVM) has completed its acquisition of Adventus Mining (TSXV: ADZN, OTCQX: ADVZF) through a statutory plan of arrangement. Under the terms, former Adventus shareholders receive 0.1015 Silvercorp shares for each Adventus share. Adventus stock options and warrants are now exercisable for Silvercorp shares, adjusted according to the exchange ratio. Adventus restricted share units have been settled in cash.
Adventus intends to delist from the TSX Venture Exchange and cease being a reporting issuer. Adventus' President, CEO, CFO, and Corporate Secretary will stay on as consultants during the transition period. This acquisition marks a significant expansion for Silvercorp in the mining sector.
Summary not available.
Summary not available.