TSX:SVM - Post Discussion
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Betteryear2 on Mar 27, 2024 2:05pm
Silvercorp Offer for OreCorp Lapsed
VANCOUVER, BC, March 25, 2024 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) announced today that, further to its off-market takeover bid (the "Offer") for all of the ordinary shares in OreCorp Limited ("OreCorp") (ASX:ORR), Silvercorp did not satisfy the 50.1% minimum acceptance condition prior to the close of the Offer on March 22, 2024 and elected not to exercise its "right to match" a competing offer for OreCorp. Silvercorp will remain entitled to payment of a break fee of approximately AUD$2.8 million in certain circumstances, as set out in the BID. Silvercorp Offer for OreCorp Lapsed (newswire.ca)
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