09:45 AM EST - Silvercorp Metals Inc. : said it intends to make an offer to acquire all of the outstanding common shares of Klondex Mines Ltd. Pursuant to the offer, Klondex shareholders will be entitled to receive 0.50 common shares of Silvercorp for each Klondex common share validly tendered to the offer, representing approximately $2.18 per Klondex common share. 0.50 Silvercorp common shares per Klondex common share, values Klondex at approximately $70 million on a fully diluted basis. The offer represents a premium of 59 per cent to Klondex's closing share price as at June 5, 2009, and a premium of 63 per cent to Klondex's 20-day volume weighted average price as at June 5, 2009. The transaction is expected to be accretive to Silvercorp's net asset value per share. Silvercorp Metals Inc.
shares T.SVM are trading down $0.28 at $4.08.
