Current Report Filing (8-k)
August 09 2021 - 4:07PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
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July 5, 2021
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Silver
bull resources, inc.
(Exact name of registrant as specified in its charter)
Nevada
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001-33125
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91-1766677
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(State or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification Number)
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777 Dunsmuir Street, Suite 1610
Vancouver, B.C.
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V7Y 1K4
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code:
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604-687-5800
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(Former name or former address, if changed since last
report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. o
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
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(e) Compensatory
Plan, Contract or Arrangement.
Amended and Restated Arras
Minerals Corp. Equity Incentive Plan
On July 5, 2021, the
shareholders of Arras Minerals Corp. (“Arras”), a majority-owned subsidiary of Silver Bull Resources, Inc., approved certain
amendments (the “Amendments”) to the Arras Minerals Corp. Equity Incentive Plan, dated April 15, 2021 (the “Arras
Plan,” and as amended and restated, the “A&R Plan”).
The Amendments, among other
things,
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for so long as Arras common shares are not listed on a stock exchange, increased the maximum number of
common shares that may be issued pursuant to grants made under the Arras Plan, together with all other security based compensation arrangements
of Arras, from 10.0% to 20.0% of the issued and outstanding Arras common shares from time to time;
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caused the limitations on the maximum number of common shares (i) reserved for issuance under the
Arras Plan to any one plan participant or (ii) issued or issuable under the Arras Plan to insiders of Arras, to apply only when Arras
common shares are listed on a stock exchange;
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caused the provision contained in the Arras Plan that requires shareholder approval for certain amendments,
including to (i) increase the maximum number of common shares issuable pursuant to the Arras Plan, (ii) reduce the exercise
price of an outstanding option or (iii) to increase the number of common shares that may be issued or issuable to insiders pursuant
to the Arras Plan, to apply only when Arras common shares are listed on a stock exchange; and
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amended certain definitions of the Arras Plan and make certain other housekeeping amendments in connection
with the aforementioned amendments.
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The foregoing description
of the Amendments does not purport to be complete and is qualified in its entirety by reference to the full text of the A&R Arras
Plan, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
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Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits.
+ Indicates a management
contract or compensatory plan, contract or arrangement.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Silver Bull resources, inc.
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Date: August 9, 2021
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By:
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/s/ Christopher Richards
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Name:
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Christopher Richards
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Title:
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Chief Financial Officer
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