Silver BULL Announces Closing of Second Tranche of Private Placement FOR Cumulative Gross Proceeds of US$1.85 Million
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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
November 10, 2020 OTCQB: SVBL, TSX: SVB
SILVER BULL ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE
PLACEMENT FOR CUMULATIVE GROSS PROCEEDS OF US$1.85
MILLION
VANCOUVER, BC – (November 10, 2020) – Silver Bull Resour ces, 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, the
Company issued 319,000 units (the “Units”) at a price of US$0.47 per Unit for aggregate gross proceeds
of US$149,930. Each Unit consists of one share of common stock in the Company (a “Common Share”)
and one half of one transferable Common Share purch ase warrant (each whole warrant , a “Warrant”).
Each Warrant entitles the holder to acquire one Common Share at a price of US$0.59 per Common
Share until the fifth anniversary of closing of the second tranche of the Private Placement.
Under the initial tranche of the Private Placement, which closed on October 27, 20 20, Silver Bull
issued a total of 3,623,580 Units for aggregate gross proceeds of USD$1,703,083.
Directors and management (and their affiliates) of the Company purchased 1,159,000 Units
(approximately US$545,000) in the Private Placement.
The net proceeds of the Private Placement will be used by Silver Bull for g eneral worki ng capital
purposes.
All securities issued pur suant to the Private Placement are subj ect to a h old period under applicable
Canadian securit ies laws, which will expire four months plus one day from the date of closing of the
Private Placement, and will be restricted securities for purposes of U.S. securities laws.
The securities issued unde r the Priv ate Placement have not been registered under the United States
Securities Act of 1933, as amended (th e “ U.S. Securities Act ”), or any state securities laws, and
accordingly, may not be offere d or s old within the United States except in compliance with the
registration requirements of the U.S. Securi ties Act and applicable state securities requirements or
pursuant to exemptions therefrom. The Company plans to file a registration statement pursu ant to the
U.S. Securities Act which, when effective, w ill permit the resale of the Common Shares issued in
connection with the Private Placement as well as the Commo n Shares issuable upon exercise of the
Warrants. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
Silver Bull’s securities in the United States.
About Silver Bull: Silver Bull is a Vancouver-based mineral exploration company whose shares are listed
on the T SX and trade on the OTCQB in the Unite d Stat es. Silver Bull recently signed an Option
Agreement to acqu ire the B eskauga Copper-Gold Project, locate d in North Eastern Kazakhstan. This
agreement is subject to on the ground due diligence , which will occur once safe travel to the region is
allowed due t o current COVID-19 related restrictions . In addit ion, Silve r Bull owns the Sierra Mojada
Project which is located 150 kilometers north of the city of Torreon in Coahuila, Mexico, and is highly
prospective for silver and zinc . Sierra Mojada is current ly und er a joint venture option with South32
International Investment Holdings Pty Ltd.
On behalf of the Board of Directors
“Tim Barry”
Tim Barry, CPAusIMM
Chief Executive Officer, President and Director
INVESTOR RELATIONS:
+1 604 687 5800
Cautionary note regarding forw ard lookin g statements: Certain statements in this new s release are
“forward-looking” within the meaning of app licable securities legislation. Forward -looking statements
can generally be identified by the use of forward-looking terminology such as “may”, “ will”, “expect”,
“intend”, “estimate”, “anticipate”, “ believe”, “continue”, “plans” or similar terminology. For ward-
looking statements include, but are not limited to, statements relating to the expected use of proceeds
from the Private Placement . Forward-looking statements are necessarily based upon the curr ent belief,
opinions and expectations of management that, while co nsidered reasonable by the Company, are
inherently subject to significant business, eco nomic, competitive, political and social uncertainties and
other contingencies. Many factors could caus e the Company’s actual results to differ materially from
those exp ressed or implied in the forward -looking statements. Th ese factors include, among other s,
market prices, metal prices, availability of capital and financing, general economic, market or busi ness
conditions, as well as other risk factors set out under the heading “Risk Factors” in the Annual Report on
Form 10-K for the year ended October 31, 2019, which is available on SEDAR at www.sedar.com.
Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent
uncertainty therein.