Silvercorp Metals Inc. Announces US$100 Million Bought Deal Financing

Silvercorp Metals Inc. (NYSE:SVM) enters into an agreement to sell, to a syndicate of underwriters led by CIBC and BMO Capital Markets.

The press release is quoted as saying:

The Corporation has granted the Underwriters the option to purchase up to an additional 1,200,000 common shares at the same price, exercisable in whole or in part, at any time up until 30 days following closing of the Offering. If the option is exercised in full the gross proceeds would be approximately US$116.8 million. The proceeds from the Offering will be used to complete the acquisition of the BYP gold-lead-zinc mine in China, for development at the GC mine in China and development at the Silvertip property in British Columbia, and for general corporate purposes.

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