On April 26, 2024, Silvercorp Metals Inc. and Adventus Mining Corporation announced that Silvercorp had acquired all issued and outstanding shares of Adventus through a definitive arrangement agreement. Adventus shareholders received 0.1015 Silvercorp shares for each Adventus share, valuing each at C$0.50. This exchange ratio represented a 31% premium based on the 20-day volume-weighted average prices of both companies as of April 25, 2024. The total equity value of the transaction was approximately C$200 million on a fully-diluted in-the-money basis.

The acquisition provided Silvercorp with enhanced asset, geographic, and metal diversification, significantly increasing its gold exposure and boosting its production profile through the advanced El Domo project in Ecuador. This project, along with the PEA stage Condor project, offered substantial growth and re-rating potential, reinforcing Silvercorp’s presence in a mining-friendly jurisdiction.

Adventus shareholders gained a significant premium and continued exposure to the profitable operations of Silvercorp, while also benefitting from Silvercorp's financial strength and technical expertise in developing El Domo.

In conjunction with the agreement, Silvercorp subscribed to new Adventus shares for C$25.6 million to help fund essential expenses prior to the closing of the transaction.

The deal, subject to Adventus shareholder approval and standard closing conditions, was expected to be finalized in the third quarter of 2024. Legal advisement was provided by McCarthy Tétrault LLP and FBPH Abogados for Silvercorp, and Bennett Jones LLP and AVL Abogados for Adventus.