SILVER BULL RESOURCES, INC. (OTCMKTS:SVBL) Files An 8-K Entry into a Material Definitive Agreement

SILVER BULL RESOURCES, INC. (OTCMKTS:SVBL) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01

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Entry Into a Material Definitive Agreement.

On August 17, 2018, Silver Bull Resources, Inc. (the "Company") entered into a series of substantially similar subscription agreements (each, a "Subscription Agreement") with certain investors providing for the issuance and sale by the Company to the investors, in the second and final tranche of a private placement, of an aggregate 7,365,555 units (the "Units") of the Company at a price of USD$0.13 per Unit for gross proceeds of USD$957,522 (the "Second Tranche"). Each Unit consists of one share of common stock of the Company (a "Common Share") and one half of one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of USD$0.16 until the second anniversary of the closing of the Second Tranche.

Under the initial tranche of the private placement, which closed on July 25, 2018, the Company issued a total of 21,776,317 Units for aggregate gross proceeds of USD$2,830,921.

In this Second Tranche, the Company has agreed to pay aggregate cash commissions of USD$40,040 and issue an aggregate of 220,000 non-transferable common share purchase warrants (the "Finder's Warrants") to a finder. Each Finder's Warrant entitles the holder to acquire one Common Share for USD$0.14 until the second anniversary of closing of the Second Tranche.

All securities to be issued in the Second Tranche are subject to a hold period under applicable Canadian securities laws, which will expire four months from the closing date of the Second Tranche, and will be restricted securities under U.S. securities laws. The Company relied on the exemption from registration under Section4(a)(2) of the U.S. Securities Act of 1933, as amended, or Rule 506 of Regulation D, or Regulation S, for purposes of the Second Tranche. This Current Report on Form8-K is not, and shall not be deemed to be, an offer to sell or the solicitation of an offer to buy any of the securities.

The foregoing descriptions of the Subscription Agreements, Warrants and Finder's Warrants do not purport to be complete and are qualified in their entirety by reference to such agreements, substantially in the form of Subscription Agreement, form of Warrant and form of Finder's Warrant filed herewith as Exhibits 10.1, 10.2, and 10.3 respectively, to this Current Report on Form8-K, which are incorporated herein by reference.

Item 1.01

Unregistered Sales of Equity Securities.

Reference is made to the disclosure set forth in Item 1.01 of this Current Report on Form8-K, which disclosure is incorporated by reference into this Item 1.01.

Item 1.01

Financial Statements and Exhibits.


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Silver Bull Resources, Inc. is an exploration stage-company. The Company has the option to acquire a number of property concessions in Mexico within the Sierra Mojada District, located in the west-central part of the state of Coahuila, Mexico. The Company conducts its operations in Mexico through its subsidiaries, Minera Metalin S.A. de C.V. and Contratistas de Sierra Mojada S.A. de C.V., and through its indirect subsidiary Minas de Coahuila SBR S.A. de C.V. The Company’s Sierra Mojada project (the Sierra Mojada Project) is located in the west central part of the state of Coahuila, Mexico, near the Coahuila-Chihuahua state border approximately 200 kilometers south the Rio Grande River. The principal mining area extends for approximately five kilometers in east-west direction along the base of the precipitous, approximately 1,000 meter high, Sierra Mojada Range. The Sierra Mojada Project consists of approximately 30 concessions consisting of approximately 20,950 hectares.

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