Silver Bull Announces Intention to Voluntarily De-list Shares from NYSE MKT and Apply to Have its Shares Trade on the OTCQX
Vancouver, British Columbia - Silver Bull Resources, Inc. (TSX: SVB, NYSE MKT: SVBL) ("Silver Bull" or the "Company") announced today that it has notified the NYSE MKT of its decision to voluntarily delist its common stock from the NYSE MKT.
Like many junior exploration companies, the Company has pursued vigorous cost cutting over the past two years. The Company's common shares are currently traded on the Toronto Stock Exchange and the NYSE MKT exchange, two of the premier stock exchanges in the world for junior mining/exploration companies. While continued listing on both exchanges would be ideal, the Company's board of directors has determined that it would be in the best interest of the Company and its shareholders to voluntarily delist from the NYSE MKT exchange due to costs associated with the continued listing and NYSE MKT exchange rules with respect to maintenance of a minimum share price. The Company will continue to file periodic reports with the SEC pursuant to the requirements of the Securities Exchange Act of 1934, as amended and the Company's shares will continue to trade on the Toronto Stock Exchange.
The Company anticipates that the last day of trading for its common shares will be on or about June 26, 2015. The Company has made application to have its shares traded on the OTCQX quotation system operated by the OTC Markets Group once the delisting from NYSE MKT is complete.
The OTCQX is the OTC's highest tier reserved for companies that meet financial standards and provide timely news and disclosures to investors. The Company believes trading on the OTCQX will offer benefits similar to a traditional exchange listing with major institutional investor participation, transparency and strong liquidity.
About Silver Bull: Silver Bull is a U.S. registered mineral exploration company based out of Vancouver, Canada. The flag ship "Sierra Mojada" project is located 150 kilometers north of the city of Torreon in Coahuila, Mexico, and is highly prospective for silver and zinc.
On behalf of the Board of Directors
Tim Barry, CPAusIMM
Chief Executive Officer, President and Director
+1 604 687 5800
Cautionary note regarding forward-looking statements: This news release contains forward-looking statements regarding future events and Silver Bull's future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include statements regarding when the delisting from the NYSE MKT is expected to become effective, the filing of future periodic reports with the SEC, the continued listing of the Company's common stock on the Toronto Stock Exchange and the trading of the Company's common stock on the OTCQX quotation system. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including such factors as the Company's ability to meet the OTCQX quotation standards, market conditions, and other matters discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended October 31, 2014, as amended, and our other periodic and current reports filed with the SEC and available on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.