SILVERCORP ANNOUNCES NON-BINDING TERM SHEET FOR PROPOSED ACQUISITION OF CELSIUS RESOURCES LIMITED

Provided By CNW

Last update: May 15, 2023

Trading Symbol:

TSX: SVM

NYSE AMERICAN: SVM

VANCOUVER, BC, May 15, 2023 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to announce that it has signed a non-binding term sheet (the "Term Sheet") with Celsius Resources Limited ("Celsius") (ASX/AIM: CLA) regarding a proposed transaction (the "Proposed Transaction") pursuant to which Silvercorp will acquire all of the issued and outstanding shares of Celsius. The addition of Celsius' advanced-stage Maalinao-Caigutan-Biyog copper-gold project ("MCB Project") in the Philippines to Silvercorp's profitable underground silver mining operations will move Silvercorp into being a diversified precious-base metals producer.