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 July6 and July 7, 2017, 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 initial tranche of a private placement, of an aggregate 18,240,000 units (the “Units”) of the Company at a price of CDN$0.08 per Unit for gross proceeds of CDN$1,459,200 (the “Private Placement”). Each Unit will consist of one share of common stock of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of CDN$0.13 until the second anniversary of the closing of the Private Placement. Included in the Private Placement amount, is a subscription from a member of the Sprott Group of Companies for 2,500,000 Units.

In the initial tranche of the Private Placement, the Company has agreed to pay aggregate cash commissions of CDN$100,744 and issue an aggregate of 1,259,300 non-transferable common share purchase warrants (the “Finders’ Warrants”) to various finders, including a member of the Sprott Group of Companies. Each Finders’ Warrant entitles the holder to acquire one Common Share for CDN$0.10 until the second anniversary of closing of the Private Placement.

All securities to be issued in the Private Placement are subject to a hold period under applicable Canadian securities laws, which will expire four months from the closing date of the Private Placement, 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 Private Placement. 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 Finders’ 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 Finders’ 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.

(d)Exhibits.

ExhibitNo.

Description

10.1

Form of Silver Bull Resources, Inc. Subscription Agreement

10.2

Form of Silver Bull Resources, Inc. Warrant Certificate (Investors)

10.3

Form of Silver Bull Resources, Inc. Warrant Certificate (Finders)


SILVER BULL RESOURCES, INC. Exhibit
EX-10.1 2 ex10x1.htm EXHIBIT 10.1 Exhibit 10.1     SUBSCRIPTION AGREEMENT FOR UNITS SILVER BULL RESOURCES,…
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About SILVER BULL RESOURCES, INC. (OTCMKTS:SVBL)

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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