Silvercorp Metals Inc. ("Silvercorp” or the “Company”) (TSX/NYSE
American: SVM) announced today it has filed a preliminary short
form base shelf prospectus with the securities regulators in each
province of Canada, except for the Province of Quebec, and a
corresponding shelf registration statement on Form F-10 with the
U.S. Securities and Exchange Commission (the “SEC”). When made
final or effective, the prospectus and registration statement will
allow the Company to offer up to US$200 million of common shares,
preferred shares, debt securities, warrants, subscription receipts
or any combination thereof (“Securities”) during the 25 month
period that the shelf prospectus is effective. The specific terms
of any offering of Securities, including the use of proceeds from
any offering, will be set forth in a shelf prospectus supplement.
Silvercorp has filed the shelf prospectus and
corresponding registration statement in order to provide the
Company with greater financial flexibility going forward but has no
immediate plans to offer or issue any Securities at this time.
A copy of the preliminary short form base shelf
prospectus can be found on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov. A copy of the prospectus may also be obtained on
request without charge from the Secretary of the Company at its
head office at 1750 - 1066 West Hastings Street, Vancouver, British
Columbia, V6E 3X1.
Neither the shelf prospectus filed with Canadian
securities regulator or the shelf registration statement filed with
the SEC has been made final or effective. The Securities may not be
sold nor may offers to buy be accepted prior to the prospectus and
the registration statement becoming final or effective.
This news release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale, of the Securities in any province, state, or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to qualification or registration of such Securities
under the securities laws of any such jurisdiction.
About Silvercorp
Silvercorp is a profitable Canadian mining
company producing silver, lead and zinc metals in concentrates from
mines in China. The Company’s goal is to continuously create
healthy returns to shareholders through efficient management,
organic growth and the acquisition of profitable projects.
Silvercorp balances profitability, social and environmental
relationships, employees’ wellbeing, and sustainable development.
For more information, please visit our website at
www.silvercorp.ca.
For further information
Lon ShaverVice PresidentSilvercorp Metals
Inc.
Phone: (604) 669-9397Toll Free: 1 (888)
224-1881Email: investor@silvercorp.ca Website:
www.silvercorp.ca
CAUTIONARY DISCLAIMER -
FORWARD-LOOKING
STATEMENTS
Certain of the statements and information in
this news release constitute “forward-looking statements” within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and “forward-looking information” within the
meaning of applicable Canadian provincial securities laws
(collectively, “forward-looking statements”). Any forward-looking
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
using words or phrases such as “expects”, “is expected”,
“anticipates”, “believes”, “plans”, “projects”, “estimates”,
“assumes”, “intends”, “strategies”, “targets”, “goals”,
“forecasts”, “objectives”, “budgets”, “schedules”, “potential” or
variations thereof or stating that certain actions, events or
results “may”, “could”, “would”, “might” or “will” be taken, occur
or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be
forward-looking statements. Forward-looking statements relate to,
among other things: the price of silver and other metals; the
accuracy of mineral resource and mineral reserve estimates at the
Company’s material properties; the sufficiency of the Company’s
capital to finance the Company’s operations; estimates of the
Company’s revenues and capital expenditures; estimated production
from the Company’s mines in the Ying Mining District and the GC
Mine; projected cash operating costs and all-in sustaining costs,
and budgets, on a consolidated and mine-by-mine basis; projections
included in the Company’s annual cost guidance; timing of receipt
of permits and regulatory approvals; availability of funds from
production to finance the Company’s operations; and access to and
availability of funding for future construction, use of proceeds
from any financing and development of the Company’s properties.
Forward-looking statements are subject to a
variety of known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ from those
reflected in the forward-looking statements, including, without
limitation, social and economic impacts of COVID-19; risks relating
to: fluctuating commodity prices; calculation of resources,
reserves and mineralization and precious and base metal recovery;
interpretations and assumptions of mineral resource and mineral
reserve estimates; exploration and development programs;
feasibility and engineering reports; permits and licenses; title to
properties; property interests; joint venture partners; acquisition
of commercially mineable mineral rights; financing; recent market
events and conditions; economic factors affecting the Company;
timing, estimated amount, capital and operating expenditures and
economic returns of future production; integration of future
acquisitions into the Company’s existing operations; competition;
operations and political conditions; regulatory environment in
China and Canada; environmental risks; foreign exchange rate
fluctuations; insurance; risks and hazards of mining operations;
key personnel; conflicts of interest; dependence on management;
internal control over financial reporting as per the requirements
of the Sarbanes-Oxley Act; and bringing actions and enforcing
judgments under U.S. securities laws, as well as those risks and
uncertainties discussed in the Company’s corresponding MD&A and
other public filings of the Company. This list is not exhaustive of
the factors that may affect any of the Company’s forward-looking
statements.
Forward-looking statements are statements about
the future and are inherently uncertain, and actual achievements of
the Company or other future events or conditions may differ
materially from those expressed or implied in the forward-looking
statements.
The Company’s forward-looking statements are
necessarily based on a number of estimates, assumptions, beliefs,
expectations and opinions of management as of the date of this news
release that while considered reasonable by management of the
Company, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. These estimates,
assumptions, beliefs, expectations and opinions include, but are
not limited to, those related to the Company’s ability to carry on
current and future operations, including: the duration and effects
of COVID-19 on our operations and workforce; development and
exploration activities; the timing, extent, duration and economic
viability of such operations; the accuracy and reliability of
estimates, projections, forecasts, studies and assessments; the
Company’s ability to meet or achieve estimates, projections and
forecasts; the availability and cost of inputs; the price and
market for outputs; foreign exchange rates; taxation levels; the
timely receipt of necessary approvals or permits; the ability to
meet current and future obligations; the ability to obtain timely
financing on reasonable terms when required; the current and future
social, economic and political conditions; and other assumptions
and factors generally associated with the mining industry. Other
than as required by applicable securities laws, the Company does
not assume any obligation to update forward-looking statements if
circumstances or management’s assumptions, beliefs, expectations or
opinions should change, or changes in any other events affecting
such statements. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated, described or intended. For the reasons
set forth above, investors should not place undue reliance on
forward-looking statements.
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