TORONTO, July 31,
2024 /CNW/ - Adventus Mining Corporation
("Adventus" or the "Company") (TSXV: ADZN) (OTCQX:
ADVZF) is pleased to announce, further to the news releases dated
April 26, 2024, June 17, 2024, July 5,
2024 and July 25, 2024 and the
news release of Silvercorp Metals Inc. ("Silvercorp") dated
July 5, 2024 and July 31, 2024, that following the resolution in
favour of the Ecuador government
of the court proceeding in the Judicial Unit of the Canton of Las
Naves in respect of the constitutional protective action filed
against the Ministry of Environment, Water and Ecological
Transition of Ecuador and the
office of the Attorney General of Ecuador on June 5,
2024 (as accepted by the court on June 12, 2024) (the "Protective Action"),
Silvercorp has advised Adventus that it no longer considers that
the Protective Action to be a Material Adverse Effect as defined in
the arrangement agreement dated April 26,
2024 between Adventus and Silvercorp. As such, the parties
are taking all necessary steps to close the plan of arrangement
transaction on July 31, 2024.
About Adventus
Adventus is an Ecuador-focused
copper-gold exploration and development company. Adventus is
advancing the majority-owned Curipamba copper-gold project, which
has a completed feasibility study on the shallow and high-grade El
Domo deposit. With the recent merger with Luminex Resources Corp.,
Adventus Mining owns the Condor gold project and a large
exploration project portfolio that spans over 135,000 hectares –
one of the largest holdings in Ecuador. The company's strategic shareholders
include Silvercorp, Ross Beaty's
Lumina Group, Altius Minerals Corporation, Wheaton Precious Metals
Corp., and significant Ecuadorian investors.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
This release contains certain "forward looking statements" and
certain "forward-looking information" as "defined under applicable
Canadian and U.S. securities laws. Forward-looking statements and
information can generally be identified by the use of
forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. The forward-looking
information contained herein is provided for the purpose of
assisting readers in understanding management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes.
Forward-looking statements relate to future events or future
performance and reflect Adventus' expectations or beliefs regarding
future events. Forward-looking statements include, but are not
limited to: the discussions regarding strategies for the
development of the Curipamba - El Domo project ("El Domo"); the
adoption of a strategy and the timing thereof; the obtaining of key
approvals, permits and environmental licensing approval for the El
Domo and the timing thereof; the start of construction at El Domo
and the timing thereof; and the timing and resolution of the Court.
By their very nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, amongst others, risks related to the exploration,
development, production, recoveries and other anticipated or
possible future developments at El Domo, including, without
limitation, that exploration, development and production activities
will not occur or be as anticipated and that environmental
licensing will not be approved; failure to obtain the environmental
licensing approval for the El Domo along with other key permits and
approvals and to start construction; the Court will not have a
favorable ruling or in the expected time period; and general
economic, business and political conditions.
Forward-looking information are based on management of the
parties' reasonable assumptions, estimates, expectations, analyses
and opinions, which are based on such management's experience and
perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to be
incorrect. Such factors, among other things, include: business
integration risks; fluctuations in general macroeconomic
conditions; fluctuations in securities markets; fluctuations in
spot and forward prices of copper or certain other commodities;
change in national and local governments, legislation, taxation,
controls, regulations and political or economic developments; risks
and hazards associated with the business of mineral exploration,
development and mining (including environmental hazards, industrial
accidents, unusual or unexpected formations pressures, cave-ins and
flooding); discrepancies between actual and estimated metallurgical
recoveries; inability to obtain adequate insurance to cover risks
and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and
claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses,
permits and approvals from government authorities); and title to
properties.
Adventus undertakes no obligation to update forward-looking
information except as required by applicable law. Such
forward-looking information represents management's best judgment
based on the information currently available. No forward-looking
statement can be guaranteed and actual future results may vary
materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information.
Please also visit the Adventus Mining website at
www.adventusmining.com.
SOURCE Adventus Mining Corporation