Silvercorp (TSX: SVM) updates Tincorp stake after Ecuador project deal

Rhea-AI Filing Summary

Silvercorp Metals Inc. has filed a report explaining changes in its ownership of Tincorp Metals Inc. tied to Tincorp’s acquisition of the Santa Barbara Gold-Copper Project in Ecuador. Silvercorp received 15,000,000 Tincorp common shares as consideration for selling this project through its subsidiary Adventus Mining Corporation.

Before Tincorp’s financing conversion and the project sale, Silvercorp held 20,738,699 Tincorp shares, or about 28.9% of Tincorp. After Tincorp converted 43,750,000 subscription receipts, Silvercorp’s stake moved to about 17.9%. Following issuance of the 15,000,000 consideration shares at the acquisition closing on May 13, 2026, Silvercorp now beneficially owns 35,738,699 Tincorp shares, representing about 27.4% of Tincorp’s outstanding common shares. The company states these shares were received as partial deal consideration and for investment purposes and notes it may adjust its Tincorp holdings over time.

Key Figures

Consideration shares received: 15,000,000 shares Pre-transaction Tincorp holdings: 20,738,699 shares Holdings after conversion, before acquisition: 17.9% +4 more

7 metrics

Consideration shares received 15,000,000 shares Tincorp common shares issued to Silvercorp/Adventus as deal consideration

Pre-transaction Tincorp holdings 20,738,699 shares Silvercorp beneficial ownership before conversion and acquisition (28.9%)

Holdings after conversion, before acquisition 17.9% Silvercorp percentage ownership of Tincorp after subscription receipt conversion

Current Tincorp holdings 35,738,699 shares Silvercorp beneficial ownership after closing of the acquisition

Current ownership percentage 27.4% Silvercorp percentage of Tincorp issued and outstanding common shares

Tincorp common shares issued on conversion 43,750,000 shares Aggregate Tincorp common shares issued upon subscription receipt conversion

Tincorp warrants issued on conversion 21,875,000 warrants Common share purchase warrants issued with converted subscription receipts

Key Terms

Early Warning System, subscription receipts, Common Share purchase warrants, forward-looking statements, +1 more

5 terms

Early Warning System regulatory

"This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues."

An early warning system is a set of signals, measurements and alerts designed to detect emerging risks or unusual changes—such as weakening sales, rising leverage, regulatory flags, or abrupt market moves—before they become full-blown problems. For investors it works like a smoke detector: it gives advance notice to investigate, rebalance or limit exposure, helping reduce surprise losses and support better-timed decisions.

subscription receipts financial

"conversion of the 43,750,000 subscription receipts issued by Tincorp on March 24, 2026."

Subscription receipts are temporary securities sold to investors that act like a receipt for future shares or cash once certain conditions in a financing or acquisition are met; until those conditions are satisfied, the funds are held in trust. Think of them as a ticket you buy today that will convert into the actual product later or get you a refund if the event doesn’t happen. They matter to investors because they provide a way to participate in a deal now while limiting immediate ownership changes and risk until the outcome is confirmed.

Common Share purchase warrants financial

"an aggregate of 21,875,000 Common Share purchase warrants upon conversion"

A common share purchase warrant is a tradable right that lets its holder buy a company’s ordinary shares at a fixed price for a set period, like a coupon that can be redeemed later to buy stock at a predetermined rate. Investors care because warrants offer leverage on future upside—they can magnify gains if the share price rises above the set price—but they can also dilute existing shareholders if used, and they expire worthless if unused.

forward-looking statements regulatory

"Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

beneficial ownership financial

"Silvercorp has acquired beneficial ownership of 15,000,000 Common Shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission File No. 001-34184

SILVERCORP METALS INC.
(Translation of registrant’s name into English)

Suite 1750 - 1066 West Hastings Street
Vancouver, BC Canada V6E 3X1
(Address of principal executive office)

[Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]

Form 20-F [   ] Form 40-F [ X ]

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: May 14, 2026	SILVERCORP METALS INC.
	/s/ Jonathan Hoyles
	Jonathan Hoyles
	General Counsel and Corporate Secretary

EXHIBIT INDEX

EXHIBIT DESCRIPTION OF EXHIBIT

99.1 News Release - May 14, 2026 - EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103

Exhibit 99.1

 

EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103

Trading Symbol:  TSX: SVM
                               NYSE AMERICAN: SVM

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

VANCOUVER, BC , May 14, 2026 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) announces that, in connection with the previously announced acquisition by Tincorp Metals Inc. ("Tincorp") (TSXV: TIN) of the Santa Barbara Gold-Copper Project located in southeastern Ecuador (the "Acquisition") disclosed in Tincorp's news release dated February 25, 2026, Silvercorp has acquired beneficial ownership of 15,000,000 Common Shares (as defined below) (the "Consideration Shares") pursuant to a share purchase agreement dated February 24, 2026 among Tincorp, Silvercorp and Silvercorp's wholly-owned subsidiary, Adventus Mining Corporation ("Adventus").

On May 13, 2026, Tincorp announced the issuance of an aggregate of 43,750,000 Common shares (each, a "Common Share") and an aggregate of 21,875,000 Common Share purchase warrants upon conversion (the "Conversion") of the 43,750,000 subscription receipts issued by Tincorp on March 24, 2026.

Prior to the Conversion and the Acquisition, Silvercorp beneficially owned, directly or indirectly, 20,738,699 Common Shares, representing approximately 28.9% of the issued and outstanding Common Shares. Following the Conversion, Silvercorp beneficially owned, directly or indirectly, approximately 17.9% of the issued and outstanding Common Shares.

On May 13, 2026, in connection with the closing of the Acquisition, Tincorp issued the Consideration Shares to Adventus, following which issuance Silvercorp beneficially owned, directly or indirectly, 35,738,699 Common Shares, representing approximately 27.4% of the issued and outstanding Common Shares.

The Consideration Shares were acquired as partial consideration for the Acquisition and for investment purposes. Depending on market and other conditions, Silvercorp may from time to time increase or decrease its direct or indirect beneficial ownership of securities of Tincorp through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise.

Silvercorp will file an early warning report in accordance with applicable Canadian securities laws. The report will be available on the SEDAR+ profile of the Company at www.sedarplus.ca.

About Silvercorp

Silvercorp Metals Inc. is a Canadian mining company producing silver, gold, lead and zinc from the Ying Mining District and the GC Mine in China.  Silvercorp's additional assets include the development-stage Curipamba copper-gold project, containing the El Domo deposit, and the exploration-stage Condor project in Ecuador.

For further information

Silvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free: 1 (888) 224-1881
Email: investor@silvercorp.ca

Cautionary statement on forward-looking information

Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release. Such statements include, without limitation, the anticipation that Silvercorp may from time to time increase or decrease its direct or indirect beneficial ownership of securities of Tincorp through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward- looking statements or information, including, but not limited to, risks related to the fact that the Company's management will have broad discretion in determining whether to from time increase or decrease Silvercorp's direct or indirect beneficial ownership of securities of Tincorp through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise; fluctuating commodity prices; recent market events and condition; estimation of mineral resources, mineral reserves and mineralization and metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; climate change; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into existing operations; permits and licences for mining and exploration in China; title to properties; non-controlling interest shareholders; acquisition of commercially mineable mineral rights; financing; competition; operations and political conditions; regulatory environment in China; regulatory environment and political climate in Bolivia and Ecuador; integration and operations of Adventus; environmental risks; natural disasters; dependence on management and key personnel; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; conflicts of interest; internal control over financial reporting as per the requirements of the Sarbanes-Oxley Act; outcome of current or future litigation or regulatory actions; bringing actions and enforcing judgments under U.S. securities laws; cyber-security risks; public health crises; the Company's investment in New Pacific Metals Corp. and Tincorp; and the other risk factors described in the Company's Annual Information Form and other filings with Canadian and U.S. regulators on www.sedar.com and www.sec.gov.

Although the forward-looking statements contained in this release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward- looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.

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SOURCE Silvercorp Metals Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2026/14/c5297.html

%CIK: 0001340677

CO: Silvercorp Metals Inc.

CNW 20:28e 14-MAY-26

FAQ

What ownership stake in Tincorp does Silvercorp Metals (SVM) now report?

Silvercorp now reports beneficial ownership of about 27.4% of Tincorp. This equals 35,738,699 common shares after receiving 15,000,000 consideration shares when Tincorp closed the Santa Barbara Gold-Copper Project acquisition on May 13, 2026.

How did Silvercorp’s Tincorp ownership change before and after the financing conversion?

Before the conversion, Silvercorp held 20,738,699 Tincorp shares, about 28.9% of the company. After Tincorp converted 43,750,000 subscription receipts into shares and warrants, Silvercorp’s ownership decreased to approximately 17.9% of outstanding common shares.

Why did Silvercorp Metals (SVM) receive 15,000,000 Tincorp shares?

Silvercorp received 15,000,000 Tincorp common shares as partial consideration for Tincorp’s acquisition of the Santa Barbara Gold-Copper Project in Ecuador. The project was held through Adventus Mining Corporation, Silvercorp’s wholly owned subsidiary involved in the transaction.

What are Tincorp’s securities issued alongside Silvercorp’s consideration shares?

Tincorp issued an aggregate of 43,750,000 common shares and 21,875,000 common share purchase warrants upon conversion of 43,750,000 subscription receipts. These issuances affected the overall share count and influenced Silvercorp’s percentage ownership in Tincorp.

How does Silvercorp describe its intentions for its Tincorp investment?

Silvercorp states the consideration shares were acquired for investment purposes and as partial deal consideration. It notes it may increase or decrease its direct or indirect holdings in Tincorp over time through market transactions, private deals, treasury issuances, or convertible security exercises.

What business does Silvercorp Metals (SVM) operate outside its Tincorp investment?

Silvercorp is a Canadian mining company producing silver, gold, lead and zinc from the Ying Mining District and GC Mine in China. It also owns the development-stage Curipamba copper-gold project and exploration-stage Condor project in Ecuador.

Filing Exhibits & Attachments

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Press Releases

• EX-991 NEWS RELEASE DATED MAY 14, 2026 11.1 KB