Benzinga | Aug 25, 2021 06:57AM EDT

Silvercorp Announces 7,054,000 Share Buyback

Silvercorp Metals Inc. ("Silvercorp" or the "Company") is pleased to announce a normal course issuer bid to acquire up to 7,054,000 common shares of the Company, representing approximately 4% the 176,354,091 common shares issued and outstanding as of August 22, 2021. The repurchase program will run from August 27, 2021 to August 26, 2022. The Company is taking this action to provide it with enhanced flexibility should market conditions result in Silvercorp's shares being undervalued relative to the value of its mining operations and corporate assets comprised of cash and cash equivalents and short-term investments of $214.4 million, in addition to investments in associates and other companies having a total market value of $243.2 million, both as at June 30, 2021.