Silver Bull Announces Warrant Expiry and Exercise for Gross Proceeds of CDN$499,200
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC -- (September 20, 2016) -- Silver Bull Resources, Inc. (TSX: SVB; OTCQB: SVBL) ("Silver Bull" or the "Company") announces the expiry of common share purchase warrants ("Warrants") issued by the Company on May 19, 2016, June 3, 2016 and June 29, 2016, and exercise of 3,120,000 Warrants prior to their expiration for gross proceeds of CDN$499,200.
The Warrants expired pursuant to an acceleration provision, which was triggered following a period of five consecutive trading days in which the closing price of the common shares of the Company on the OTCQB Venture Marketplace was US$0.18 or higher. The acceleration provision resulted in the acceleration of the expiry date to September 19, 2016 of 11,362,310 Warrants. As 3,120,000 Warrants were exercised before the Warrants expired, 8,242,310 Warrants expired unexercised.
About Silver Bull: Silver Bull is a mineral exploration company whose shares are listed on the Toronto Stock Exchange and trade on the OTCQB in the United States, and is based out of Vancouver, Canada. The "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