Under the terms of the Transaction, Adventus shareholders will receive 0.1015 Silvercorp Shares for each existing Adventus Share held. The Exchange Ratio implies consideration of CAD 0.50 per Adventus Share based on the 20-day volume-weighted average prices ("VWAP") of Silvercorp Shares on the Toronto Stock Exchange on April 25, 2024. The implied equity value of the Transaction is approximately C$200 million on a fully-diluted in-the-money basis. The Arrangement Agreement includes a termination fee of CAD 10 million, payable by Adventus, under certain circumstances (including if the Arrangement Agreement is terminated in connection with Adventus pursuing a Superior Proposal).

In addition to Adventus securityholder and court approval, the Transaction is also subject to the satisfaction of certain other closing conditions customary. The Transaction has been conditionally approved by the TSXV but remains subject to final approval of the TSXV on behalf of Adventus, and approval of the TSX and NYSE American on behalf of Silvercorp, including the acceptance for listing of the Silvercorp Shares to be issued in connection with the Transaction. The board of directors of Adventus has unanimously approved the Transaction. The Transaction is expected to be completed in the third quarter of 2024.