Silvercorp Metals Inc. announced the successful closing of its private placement offering of US$150,000,000 aggregate principal amount of 4.75% convertible senior notes due 2029. This amount includes the full exercise of the initial purchasers' option to purchase an additional US$20,000,000 aggregate principal amount of notes.
The completion of this significant financing round provides Silvercorp with substantial capital resources. The company explicitly stated its intention to allocate the net proceeds towards the construction of copper-gold mining projects located outside of China.
Furthermore, a portion of the funds will be directed towards the exploration and development of other projects within its portfolio, as well as for general working capital. This capital infusion is crucial for advancing Silvercorp's strategic diversification and growth initiatives.
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