Silver Bullet Provides Further Details on Second Tranche of Financing
Silver Bullet Provides Further Details on Second Tranche of
Financing
January 9, 2024 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and
OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) on January 4, 2024 announced the closing of
the first tranche of its previously announced financing (the “Financing”). On January 9, 2024
SBMI announced closing the second tranche of the Financing. The Company is providing
greater details on this second tranche and correcting inadvertent amounts.
The second tranche of the Financing consisted of $98,285 by way of units (each, a “Unit”)
priced at $0.12 cents per Unit, resulting in the issuance of 819,042 Units. Each Unit consisted
of one common share and a full warrant exercisable into one common share at $0.17 for a term
of 2 years. There is no acceleration clause on these $0.17 warrants. One insider participated in
the Financing. Finders fees paid to arm’s length parties were $2,604 in cash and 21,700 broker
warrants, with those warrants having an exercise price of $0.17 and a term of 24 months.
The participation of one insider constitutes a "related party transaction" for the purposes of
Multilateral Instrument 61 -101, Protection of Minority Security Holders in Special
Transactions ("MI 61 -101"). The Company is relying upon exemptions from the formal
valuation and minority shareholder approval requirements of MI 61 -101 in completing the
Offering with the Insider on the basis that the fair market value of such participation is less than
25% of SBMI’s current market capitalization.
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 pathogens create
risks that at this time are immeasurable and impossible to define.