VANCOUVER, British Columbia, July 26, 2018 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (TSX:SVB)
(OTCQB:SVBL) (“Silver Bull” or the “Company”) is pleased to announce that it has completed the
initial tranche of its previously announced private placement (the “Private Placement”). The initial tranche
consisted of 21,776,317 units (the “Units”) of the Company at a price of USD$0.13 per Unit for aggregate gross
proceeds of USD$2,830,921. Each Unit consisted of one common share in the capital of the Company (a “Common
Share”) and one half of one transferable Common Share purchase warrant (each whole warrant, a “Warrant”).
Each Warrant entitles the holder thereof to acquire one Common Share at a price of USD$0.16 until the second anniversary of the
closing of initial tranche of the Private Placement.
Exploration Capital Partners 2005 Limited Partnership, a fund managed by one of the Sprott Group of Companies
purchased 8,100,000 Units.
The net proceeds of the Private Placement will be used by Silver Bull for general working capital purposes. The
Company paid an aggregate cash commission on the initial tranche of USD$184,070, in addition to issuing an aggregate of 1,011,374
non-transferable common share purchase warrants (the “Finders’ Warrants”). Each Finders’ Warrant entitles the
holder thereof to acquire one Common Share for USD$0.14 until the second anniversary of the closing of the initial tranche of the
Private Placement.
All securities issued pursuant to the Private Placement are subject to a hold period under applicable Canadian
securities 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 under the Private Placement have not been registered under the United States Securities
Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be
offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and
applicable state securities requirements or pursuant to exemptions therefrom. The Company plans to file a registration statement
pursuant to the U.S. Securities Act which, when effective, will permit the resale of the Common Shares issued in connection with
the Private Placement as well as the Common Shares issuable upon exercise of the Warrants and the Finders’ 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 mineral exploration company whose shares are listed on the
Toronto Stock Exchange and trade on the OTCQB in the United States, and is based out of Vancouver, Canada. The Sierra Mojada
Project is located 150 kilometers north of the city of Torreon in Coahuila, Mexico, and is highly prospective for silver and
zinc.
On behalf of the Board of Directors
“Tim Barry”
Tim Barry, CPAusIMM
Chief Executive Officer, President and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@silverbullresources.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release are “forward-looking” within the meaning of applicable 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. Forward-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 current belief, opinions and expectations of management that, while
considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social
uncertainties and other contingencies. Many factors could cause the Company’s actual results to differ materially from those
expressed or implied in the forward-looking statements. These factors include, among others, market prices, metal prices,
availability of capital and financing, general economic, market or business 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, 2017, 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.