Silver Bull Announces Proposed Public Offering of Units
February 05 2013 - 4:00PM
Marketwired
Silver Bull Resources, Inc. (TSX:SVB)(NYSE MKT:SVBL) ("Silver
Bull") announced today a marketed public offering of units. Each
unit will be comprised of one share of common stock of Silver Bull
(a "Common Share") and one-half of one Common Share purchase
warrant, with each whole warrant exercisable to purchase one Common
Share, at an exercise price to be determined in the context of the
market, for a period of 18 months from the closing of this
offering. The pricing and number of units to be offered will be
determined in the context of the market. PI Financial Corp. and
Stifel Nicolaus Canada Inc. are acting as co-lead placement agents
for the offering, and Roth Capital Partners, LLC is a co-placement
agent in the United States in connection with this offering.
Silver Bull intends to use the net proceeds from the offering
for the preparation of a resource update, metallurgical studies,
commencement of a preliminary economic assessment and general
working capital requirements with respect to advancement of its
Sierra Mojada Silver Project in Mexico.
Silver Bull will apply to list the Common Shares to be issued in
the offering and upon the exercise of the warrants on the TSX and
NYSE MKT, but does not intend to apply to list the units or
warrants to be issued in the offering on any stock exchange.
Listing will be subject to satisfying all of the requirements of
such stock exchanges. As this offering is subject to market
conditions, there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The offering is being made pursuant to a shelf registration
statement on Form S-3 that Silver Bull has filed with the
Securities and Exchange Commission ("SEC") and an MJDS base shelf
prospectus that has been filed with the security regulatory
authorities in each of the provinces of British Columbia, Alberta
and Ontario (the "Canadian Securities Authorities"), both of which
are effective. Any offer or sale will be made only by means of a
U.S. prospectus supplement or a Canadian MJDS prospectus supplement
to be filed with the Canadian Securities Authorities. A preliminary
U.S. prospectus supplement and a preliminary Canadian MJDS
prospectus supplement containing important information relating to
these securities have been filed with the SEC and the Canadian
Securities Authorities, respectively. The preliminary prospectus
supplements are still subject to completion or amendment. A final
prospectus supplement relating to the offering will be filed with
the SEC, and a final Canadian MJDS prospectus supplement relating
to the offering will be filed with the Canadian Securities
Authorities.
Copies of the preliminary prospectus supplement, the preliminary
Canadian MJDS prospectus supplement and, when available, copies of
the final prospectus supplement, the final Canadian MJDS prospectus
supplement and the accompanying base shelf prospectuses relating to
these securities may be obtained from:
PI Financial Corp.
Attn: Erica Williamson
1900 - 666 Burrard St.
Vancouver, BC V6C 3N1
Phone: 604-664 2900
Fax: 604 664 3660
Email: ewilliamson@pifinancialcorp.com
Stifel Nicolaus Canada Inc.
Attn: Toral Patel
79 Wellington Street West, 21st floor
Toronto, ON M5K 1B7
Phone: 416-815-3082
Fax: 416-815-1621
Email: patelto@stifel.com
Roth Capital Partners, LLC
Attn: Equity Capital Markets
888 San Clemente Drive, Newport Beach, CA 92660
Phone: 800-678-9147
Fax: 949-720-7227
Email: rothecm@roth.com
Electronic copies of the U.S. prospectus supplements and
accompanying prospectus will also be available on the website of
the SEC at http://www.sec.gov. Electronic copies of the Canadian
MJDS prospectus supplements and accompanying prospectus may be
obtained by accessing the System for Electronic Document Analysis
and Retrieval (SEDAR) established by the Canadian Securities
Administrators at http://www.sedar.com.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted. The
securities being offered have not been approved or disapproved by
any regulatory authority, nor has any such authority passed upon
the accuracy or adequacy of the preliminary prospectus supplement,
the accompanying base shelf prospectus or the registration
statement.
On behalf of the Board of Directors
Tim Barry, MAusIMM, Chief Executive Officer, President and
Director
Cautionary note regarding forward looking statements
This news release contains forward-looking statements regarding
future events and Silver Bull's future results that are subject to
the safe harbors created under the Securities Act of 1933 (the
"Securities Act") and the Securities Exchange Act of 1934 (the
"Exchange Act") and applicable Canadian securities laws.
Forward-looking statements include statements regarding the
offering and the intended use of proceeds of the offering. These
statements are based on current expectations, estimates, forecasts,
and projections about the market condition, the industry in which
Silver Bull operates and the beliefs and assumptions of Silver
Bull's management. Words such as "expects", "anticipates",
"targets", "goals", "projects", "intends", "plans", "believes",
"seeks", "estimates", "continues", "may", variations of such words,
and similar expressions, are intended to identify such
forward-looking statements. Forward-looking statements are subject
to a number of assumptions, risks and uncertainties, many of which
are beyond our control, including such factors as market
conditions, receipt of necessary regulatory and stock exchange
approvals, the availability of sufficient future financing, and
other matters discussed under the caption "Risk Factors" in our
Annual Report on Form 10-K for the fiscal year ended October 31,
2012, as amended, and our other periodic and current reports filed
with the SEC and available on www.sec.gov and with the Canadian
securities commissions available on www.sedar.com. Readers are
cautioned that forward-looking statements are not guarantees of
future performance and that actual results or developments may
differ materially from those expressed or implied in the
forward-looking statements. Any forward-looking statement made by
us in this release is based only on information currently available
to us and speaks only as of the date on which it is made. We
undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
Contacts: Silver Bull Resources, Inc. Matt Hallaran Investor
Relations +1 604 336 8096info@silverbullresources.com
www.silverbullresources.com
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