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.