08:57 AM EDT, 05/03/2024 (MT Newswires) -- Adventus Mining ( ADVZF ) on Friday said it fully repaid about $9.6 million under an agreement regarding its unsecured convertible loan with Altius Minerals ( ATUSF ) .

Adventus Mining ( ADVZF ) funded the repayment from the proceeds of the private placement completed on May 1 along with the proposed acquisition by Silvercorp Metals Inc. of all of the issued and outstanding common shares of Adventus.

As a result of the new agreement, Altius will not exercise into additional common shares of Adventus and relinquished its right to convert the debt into a new net smelter return royalty on the El Domo - Curipamba project. The original convertible loan agreement between Adventus and Altius was originally signed in July 2023.

Additionally, the company said a court date for the interim order in connection with the transaction has been scheduled for May 22.