Adventus Mining Corp (TSE:ADZN) has released an update.
Adventus Mining Corporation’s planned arrangement with Silvercorp Metals Inc. has hit a snag, as Silvercorp has advised that certain closing conditions have not been met, specifically concerning a constitutional protective action in Ecuador that Silvercorp deems a Material Adverse Effect. Despite the Ontario Superior Court of Justice’s approval and overwhelming shareholder support for the arrangement, Adventus disagrees with Silvercorp’s assessment and is prepared to take necessary steps to protect its interests, with the possibility of continued discussions or asserting their rights if the deal does not close by the July 31, 2024 deadline.
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