UNDERWRITING AGREEMENTUnderwriting Agreement • December 8th, 2010 • Silvercorp Metals Inc • Gold and silver ores • New York
The undersigned, CIBC World Markets Inc., BMO Nesbitt Burns Inc. (together, the “Co-Lead Underwriters”), Raymond James Ltd., UBS Securities Canada Inc. and Salman Partners Inc., (each, including the Co-Lead Underwriters, an “Underwriter” and collectively the “Underwriters”) understand that Silvercorp Metals Inc. (the “Company”) proposes to issue and sell an aggregate of 8,000,000 common shares in the capital of the Company (the “Purchased Shares”). The Underwriters hereby severally, and not jointly, nor jointly and severally, agree to purchase from the Company in the percentages set forth in section 8.1 of this Agreement, all but not less than all of the Purchased Shares on a “bought deal” basis, at the purchase price of $12.70 per common share (the “Purchase Price”) for aggregate gross proceeds of $101,600,000.
