Silver Bullet Mines Corp. (SBMI), formerly Pinehurst Capital I Inc., is pleased to announce that it has closed its previously announced qualifying transaction.
Silver Bullet Mines Corp.’s shares were halted on August 27, 2020, at the company’s request pending completion of the transaction and receipt of final approval of the TSXV.
Pinehurst I Acquisition Corp., a wholly-owned subsidiary of the company, and an entity formerly named Silver Bullet Mines Inc. amalgamated under the to form Silver Bullet Mining Inc.
As a result of the amalgamation, all common shares of Pinehurst Capital I Inc. were consolidated based on one post-consolidation common share for every 2.1428 pre-consolidation common shares.
In exchange for each security held in the capital of Silver Bullet Mining Inc., the security holder received one security in the capital of Silver Bullet Mines.
With the closing of the transaction, Pinehurst I Acquisition Corp changed its name to Silver Bullet Mines Corp.
Silver Bullet Mines has a total of 55,458,038 common shares issued and outstanding.
An aggregate of 24,071,668 common shares and 2,605,763 stock options held by the principals of Silver Bullet Mines are subject to Tier 2 surplus security escrow.
On closing of the Transaction, David Rosenkrantz, Daniel Tobon, Ilana Prussky, John A. Leja, Maurice Kagan and Shael Soberano resigned as the directors and officers of Silver Bullet Mines.
Silver Bullet Mines common shares will commence trading on the TSXV as a Tier 2 mining issuer under the symbol “SBMI” on December 6, 2021.