Silvercorp Metals Maintains Minimum Acceptance Condition In OreCorp Takeover Bid

(RTTNews) - Silvercorp Metals Inc. (SVM, SVM.TO) said that it will not waive its 50.1% minimum acceptance condition relating to its off-market takeover bid for all of the ordinary shares in OreCorp Limited (ORR.AX) that it does not already own in exchange for consideration comprising 0.0967 common shares of Silvercorp and A$0.19 cash per OreCorp share.

Silvercorp noted that the supplementary bidder's statement will be lodged with the Australian Securities and Investments Commission. Silvercorp's Offer is currently open for acceptances until 7:00 pm (Sydney time) on 22 March 2024, unless further extended or withdrawn in accordance with the Corporations Act.

Silvercorp encourages all OreCorp shareholders who have not already accepted the Silvercorp Offer to do so without delay.