Vancouver's Silvercorp Metals Inc. (TSX:SVM) has raised $31 million from a syndicate of underwriters to be used for potential acquisitions, development and general corporate purposes.
The syndicate of underwriters agreed to buy 10 million Silvercorp shares at $3.10 per share and each has the option to buy up to 15% more shares.
Raymond James Ltd. led the syndicate that included Salman Partners, Cormark Securities Inc. and Genuity Capital Markets.
Silvercorp's share price range during the past week: between $3.36 and $3.80; 52-week high: $10.65; 52-week low: $1.19.