Silver Bull Announces Closing of Private Placement of CDN$651,000, Including Purchase From Sprott for CDN$474,750

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/964-tsx/svb/22570-silver-bull-announces-closing-of-private-placement-of-cdn-651-000-including-purchase-from-sprott-for-cdn-474-750.html

Silver Bull Resources, Inc. (TSX:SVB)(OTCQB:SVBL) (“Silver Bull” or the “Company“) is pleased to announce that it has completed the private placement (the “Private Placement“) of units (the “Units“) of the Company announced on July 14, 2016. Under the Private Placement, Silver Bull issued 4,340,000 units at a price of CDN$0.15 per Unit for aggregate gross proceeds of CDN$651,000. Each Unit consists of one common share in the capital 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$0.16 until the date that is three years following closing of the Private Placement. If, commencing on the date that is four months after the closing of the Private Placement, the closing price of the Common Shares on the TSX is higher than CDN$0.30 for 20 consecutive trading days, then on the 20th consecutive trading day (the “Acceleration Trigger Date“) the expiry date of the Warrants may be accelerated to the 20th trading day after the Acceleration Trigger Date by the issuance, within three trading days of the Acceleration Trigger Date, of a news release announcing such acceleration.

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