Silver Bullet Mines Corp. Successful Financing
Silver Bullet Mines Corp. Successful
Financing
Burlington, Ontario--(Newsfile Corp. - February 22, 2022) - Silver Bullet Mines Corp. (TSXV: SBMI)
('SBMI' or 'the Company') announces it has closed on $764,000, in its previously announced financing.
This represents 1,910,000 Units, with each Unit priced at $0.40 (forty cents). Each Unit consists of one
common share and one full 60-cent (sixty cent) warrant with a 24-month term, with each such warrant
being exercisable into a common share (the "Financing"). There is no acceleration clause on such
warrants. That pricing is at a 33% premium to the previous round of financing.
This is the first tranche of Units on which SBMI has closed. SBMI has subscription agreements in hand
totalling roughly a further $500,000, which means SBMI will continue to close on further tranches over the
next while as it collects funds.
These funds will be used to complete the process of putting the Buckeye Silver Mine into pilot production
in March, 2022, to advance metallurgic work at the past-producing silver and gold Washington Mine in
Idaho, and for working capital.
"What's fascinating to me is the continued strong shareholder support," said A. John Carter, SBMI's
CEO. "We are particularly pleased with the high percentage of subscribers in this financing who are
already shareholders. Their repeat participation indicates a strong endorsement of SBMI's business
plan and our execution upon it. Because we took a non-traditional route, we remain on path to be in pilot
production of silver this quarter."
Referral fees may be paid to arm's length persons in connection with the issuance of the Units. Other
than the subscription agreement, there will be no further offering material provided to Existing Security
Holders or others related to Financing. The subscription agreement is available at the Company's
website
https://www.silverbulletmines.com/technical-corporatedocuments
.
For further information, please contact:
John Carter
Silver Bullet Mines Corp., CEO
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
+1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate
to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent
management's current expectation of future events, and can be identified by words such as "believe",
"expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar
expressions. Although management believes that the expectations represented in such forward-looking
statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and
uncertainties that could cause actual future results, conditions, actions or events to differ materially from
those in the forward-looking statements. If and when forward-looking statements are set out in this new
release, SBMI will also set out the material risk factors or assumptions used to develop the forward-
looking statements. Except as expressly required by applicable securities laws, SBMI assumes no
obligation to update or revise any forward-looking statements. The future outcomes that relate to
forward-looking statements may be influenced by many factors, including but not limited to: the impact of
SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA
procedures; the continuity of the global supply chain for materials for SBMI to use in the production and
processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to
the location of the SBMI's properties; risks of future legal proceedings; income tax matters; fires, floods
and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of
securities; commodities pricing; currency movements, especially as between the USD and CDN; effect
of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential
global viruses create risks that at this time are immeasurable and impossible to define.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/114396