Silvercorp Metals and Guyana Goldfields Enter Into Amending Agreement

FYI: VANCOUVER, British Columbia and TORONTO, May 17, 2020 (GLOBE NEWSWIRE) -- Silvercorp Metals Inc. (“Silvercorp”) (TSX/NYSE American: SVM) and Guyana Goldfields Inc. (TSX: GUY) (“Guyana Goldfields”) are pleased to announce that they have entered into an amending agreement (the “Amending Agreement”) to the arrangement agreement (the “Arrangement Agreement”) entered into previously and announced on April 27, 2020, pursuant to which Silvercorp agreed to acquire all of the issued and outstanding shares of Guyana Goldfields by way of a court approved plan of arrangement under the Canada Business Corporations Act (the “Transaction”). Pursuant to the terms of the Amending Agreement, each holder of Guyana Goldfields shares will receive, for each Guyana Goldfields share held, C$0.25 in cash and 0.1849 of a Silvercorp common share, for total consideration of C$1.30 per share (based on the volume weighted average price for Silvercorp common shares for the 5 trading days ended May 14, 2020). The terms of the Amending Agreement were agreed following receipt by Guyana Goldfields of an unsolicited all-cash proposal from a third party to acquire Guyana Goldfields. As of the date of this news release, Silvercorp holds 16,549,000 Guyana Goldfields shares, representing 9.48% of the issued and outstanding common shares. After The post Silvercorp Metals and Guyana Goldfields Enter Into Amending Agreement appeared first on Asset Management - How To Asset Manage. Seoul, Korea
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