15:07:54 EST Sun 03 Mar 2024
Enter Symbol
or Name

Silver Bullet Mines Corp
Symbol SBMI
Shares Issued 62,657,962
Close 2022-10-20 C$ 0.22
Market Cap C$ 13,784,752
Recent Sedar Documents

Silver Bullet arranges $600,000 unit financing

2022-10-21 10:25 ET - News Release

Mr. John Carter reports


On Sept. 26, 2022, Silver Bullet Mines Corp. disclosed it had found significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate. On Oct. 18, 2022, the company released a second round of assay results proving up the palladium, platinum, rhodium, osmium and gold in representative mineralized material from its Buckeye silver mine near Globe, Ariz.

To allow Silver Bullet to exploit the palladium, platinum, rhodium, osmium and gold, in addition to the original silver targets, the company announces its intention to carry out a non-brokered financing of units. Each unit will be priced at 20 cents and will comprise one common share and one full 30-cent warrant with a 24-month term, with each such warrant being exercisable into a common share.

The target amount for the financing will be $600,000, with the number of units to issue as a result of the financing being three million. Units will be allocated on a first-come, first-served basis although Silver Bullet retains the right to accept, reject or modify subscription agreements as it sees fit. The financing is subject to regulatory approval.

Silver Bullet currently owns a gravity mill near Globe, Ariz., that is fully functional for the extraction of silver. The use of proceeds from the financing will be to determine what equipment will be required to augment that mill's capabilities to also extract the other elements mentioned above. All of the existing mill will be retained. Other proceeds from the financing will be for working capital.

We seek Safe Harbor.

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