Eos | Silvercorp Sues Jon R. Carnes, His EOS Holdings And Zane Heilig As “Alfred Little”/”IFRA” In Silvercorp Amended New …

VANCOUVER, BRITISH COLUMBIA–(Marketwire -01/09/12)- Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX: SVM.TO – News )(NYSE: SVM.TO – News ) currently filed an nice legal case in the Supreme Court of the State of New York, County of New York, adding EOS Holdings LLC., Jon Carnes , Zane Heilig , Andrew Wong and International Financial Research Analysis Group (“IFRA”), as defendants. The initial claim, filed on September 22, 2011 alleges that defendants Chinastockwatch.com, Jerry Katz, Alfredlittle.com, Alfred Little , Simon Moore, and a few “John Doe” defendants with swelling “false, insulting and fraudulent” data about Silvercorp on the Internet and in letters to the media and regulators to expostulate down the cost of Silvercorp’s batch to distinction from their partial positions in the stock. The defendants have not nonetheless answered the Silvercorp’s fit and the allegations sojourn to be proved.

Silvercorp has conducted endless investigations to encouragement the allegations regarding the impasse of the assorted parties who have been updated as defendants:

1. Jon R. Carnes is a associate of the organisation comprising Defendant Alfred Little. Carnes is a United States inhabitant who maintains proprietor addresses both in Las Vegas, Nevada and in the Vancouver, British Columbia area. Carnes is the President of Defendant EOS Holdings LLC (“EOS”), that he founded in 1992, and he is an authorized (with the pretension “Protector”) of One Horizon Foundation, that is the largest shareholder of EOS.

2. Zane Heilig is a associate of the organisation comprising Defendant Alfred Little. Heilig is a United States inhabitant who maintains proprietor addresses both in Las Vegas, Nevada and in the Vancouver, British Columbia area. Heilig is the Director of Research at EOS, and has worked for Carnes for many years.

3. EOS Holdings LLC is a associate of the organisation comprising Defendant Alfred Little. EOS Holdings LLC., a Nevada corporation, describes itself as a account that focuses on “identifying and appropriation first and second turn investments in tiny and midst sized companies in the U.S., Canada and China ,” and that has “completed over 25 investments to date.” EOS’ website represents that it maintains a team of 5 full-time agents and countless part-time agents in China formed in its Chengdu office.

Carnes, Heilig and EOS are purported to have become participants in the organisation comprising Alfred Little well before the September 2011 attacks on Silvercorp and other companies with operations in China. On Mar 29, 2011, Carnes, Heilig, IFRA, and EOS were entangled in the announcement of a press let go in the name of “Alfred Little” relating to other firm called China Integrated Energy by the PR Newswire service. PR Newswire’s archives uncover that the 72 year aged mom of EOS’s Research Director Zane Heilig “authorized” the “Alfred Little” release, and gave as meeting phone figures is to let go the Vancouver phone number of defendants Heilig, Carnes, and EOS. Heilig’s mom moreover gave PR Newswire, as an extra meeting phone number, the Hong Kong phone number of the updated defendants Andrew Wong and IFRA. Furthermore, Heilig’s mom hand-wrote the examine to pay PR Newswire for running the “Alfred Little” let go using supports forwarded by Zane Heilig.

Andrew Wong and IFRA are members of the organisation comprising suspect Alfred Little. Andrew Wong is a Senior Analyst at IFRA, that describes itself as a “provider of intricate financial analysis, business research, and inquisitive due hard work services.” IFRA maintains offices in the United States and China, inclusive at the subsequent to locations: (i) 10/F Miramar Tower, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong; (ii) 548 Market Street, San Francisco CA 94104; and (iii) 2280 East Ventura Boulevard, Camarillo CA 93010, together with a meeting phone number in New York County (area ethics 646).

A Shanghai-based researcher with IFRA declared “Dino” Huang certified in an talk with the Globe and Mail, that IFRA had ready the “Alfred Little” inform aggressive Silvercorp on that this law fit is based. The IFRA researcher serve certified that IFRA ready the inform on interest of an “unnamed sidestep fund” that had shorted Silvercorp stock, and thus would distinction if the batch cost dropped.

In two well-defined unknown affidavits not long ago filed on interest of “Alfred Little” in New York Court in the Sino Clean and Deer litigation against “Alfred Little” outset from identical short-and-distort batch manipulations, “Alfred Little” swore beneath pledge that he has “used” IFRA to bring out his activities. (“Alfred Little” swore to the affidavits before a notary at the U.S. Consulate in Shanghai, but then redacted his name and signature before submitting the affidavits to the Court.)

Information performed from EOS’ website serve indicates that the person accountable for “overseeing all of the fund’s activities” is Kun Huang, who is described as its “Asia Region Manager” and its “Chief Investment Analyst”. Mr. Huang is a Canadian inhabitant with a chateau in Vancouver, British Columbia. Other comparison EOS officials add Jeff Huang (a/k/a Xiaofu Huang), its Director of Investment Investigation; Beth Liu, Vice President; Xiping Wang, Vice President; Joseph Ramelli, Manager of Equity Trading; Biquiang Huang, Vice President handling its Chengdu office, and Li (Emma) Liu, Director China. On data and idea EOS controls and acts by One Horizon Foundation, EOS Research LLC, EOS Middle East Investments Limited, Carnes Investment Foundation, and JCAR Funds Ltd., amid other entities and individuals.

EOS maintains offices in the United States, Canada and China, inclusive at the subsequent to locations: (i) 2560 Highvale Drive, Las Vegas, NV 89134; (ii) 1500 West Georgia Street, Suite 1400, Vancouver, British Columbia V6G 2Z6, Canada; (iii) 3740 Chatham Street, Suite 205, Richmond, British Columbia V7E 2Z3, Canada; (iv) Level 18, The Office Tower, Shangri-La Centre, 9 Binjiang Road (East), Chengdu, Sichuan, China 610021; and (v) 689 Guang Dong Lu, Huang Pu Qu, Shanghai, China 200001, together with locations in Beijing and Hong Kong.

Silvercorp has purported that, commencement on Aug 29, 2011 and stability up to the present, defendants have posted on the chinastockwatch.com and alfredlittle.com websites and sent unknown letters to the British Columbia Securities Commission, the Ontario Securities Commission, Silvercorp’s auditors at Ernst Young, and assorted financial media outlets that secretly and maliciously lay that Silvercorp’s financial statements and its resource deposits were overstated, amid other fake and insulting statements. Following these statements, Silvercorp’s batch cost forsaken neatly – as ample as 20% in a day on scarcely high trade volumes – before to some extent recuperating as Silvercorp came deliver with data in the form of bank statements, supervision archives and other papers to plead the defendants’ fake allegations.

Silvercorp has sued the defendants for defamation, unfair enrichment, trade defame and tortious interference, and deceptive acts and practices. As a outcome of the actions charged, Silvercorp has asked the justice to demand the defendants to pay saving and punitive financial damages, to demand that the defendants’ increase from their partial selling activities should be disgorged to Silvercorp or imposed with a helpful certitude and paid as the justice might direct, and to demand the defendants to eliminate fake statements about Silvercorp from their websites and not to repeat such misconduct, amid other relief.

As formerly reported, Silvercorp has reported on the facts as they are accepted to law coercion authorities in Canada, the United States, and China and is auxiliary with the investigations in those countries. Silvercorp is represented in this matter by the law firm of K L Gates LLP.

About Silvercorp Metals Inc.

Silvercorp Metals Inc. is intent in the acquisition, exploration, growth and mining of high-grade silver-related vegetable properties in China and Canada. Silvercorp is the largest first china writer in China by the operation of the 4 silver-lead-zinc mines at the Ying Mining District in the Henan Province of China. Silvercorp not long ago acquired the XBG and XHP silver-gold-lead-zinc mines within reach the Ying Mining District in Henan Province, serve consolidating the region. Silvercorp has commenced prolongation at its second prolongation foothold in China, the BYP gold-lead-zinc plan in Hunan Province, and is currently constructing the indent and connected services in credentials for mining at the GC silver-lead-zinc plan in Guangdong Province. In Canada, Silvercorp is scheming an focus for a Small Mine Permit is to Silvertip high rank silver-lead-zinc cave plan in northern British Columbia to give a serve stage for growth and geographic diversification. The Company’s shares are traded on the New York Stock Exchange (symbol: SVM.TO – News ) and Toronto Stock Exchange (symbol: SVM.TO – News ) and are enclosed as a part of the SP/TSX Composite and the SP/TSX Global Mining Indexes.

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