VANCOUVER, BC – (August 4, 2017) – Silver Bull Resources, Inc. (TSX: SVB; OTCQB: SVBL) (“Silver Bull” or the “Company“) is pleased to announce that it has completed the second and final tranche of its previously announced private placement (the “Private Placement“). Under the second tranche of the Private Placement, Silver Bull issued 3,125,000 units (the “Units“) of the Company at a price of CDN$0.08 per Unit for aggregate gross proceeds of CDN$250,000. Each Unit consisted 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$0.13 until the second anniversary of the closing of the Private Placement.
Under the initial tranche of the Private Placement, which closed on July 10, 2017, Silver Bull issued a total of 18,240,000 Units for aggregate gross proceeds of CDN$1,459,200.
The net proceeds of the Private Placement will be used by Silver Bull for general working capital purposes and exploration of the Sierra Mojada Project.