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Silver Bull Resources Inc Announces Pricing of Public Offering of Units


Wednesday, 6 Feb 2013 09:30am EST 

Silver Bull Resources Inc announced that it has priced its previously announced offering of units. Silver Bull is offering up to 22,750,000 units at USD0.40 per unit to the public. The gross proceeds from the offering are expected to be up to approximately USD9.1 million, prior to deducting agency commissions and estimated offering expenses. Each unit will be comprised of one share of common stock of Silver Bull (a Common Share) and one-half of one Common Share purchase warrant, with each whole warrant exercisable to purchase one Common Share, at an exercise price of USD0.55, for a period of 18 months from the closing of this offering. Silver Bull has granted the agents an over-allotment option, exercisable for a period of 30 days following the closing, to increase the size of the offering by up to an aggregate of 2,275,000 units to cover over-allotments, if any. The offering is expected to close on or about February 14, 2013. PI Financial Corp. and Stifel Nicolaus Canada Inc. are acting as co-lead placement agents for the offering, and Roth Capital Partners, LLC is a co-placement agent in the United States in connection with this offering. Silver Bull intends to use the net proceeds from the offering for the preparation of a resource update, metallurgical studies, commencement of a preliminary economic assessment and general working capital requirements with respect to advancement of its Sierra Mojada Silver Project in Mexico. 

Company Quote

0.125
-0.01 -7.41%
19 Dec 2014