11:46 AM EST, 11/25/2024 (MT Newswires) -- Silvercorp Metals ( SVM ) on Monday said it closed its private placement financing of US$150 million of 4.75% convertible senior notes due 2029.

The company said the total includes the exercise of an additional US$20 million of the notes.

Proceeds will be used for the construction of copper-gold mining projects outside of China, for the exploration and development of other projects and for working capital.

Silvercorp was last seen down $0.15 to $4.64 on the Toronto Stock Exchange.

Price: 4.66, Change: -0.13, Percent Change: -2.71