10:35:51 EDT Sun 23 Jun 2024
Enter Symbol
or Name

Silver Bullet Mines Corp
Symbol SBMI
Shares Issued 69,439,898
Close 2024-05-13 C$ 0.095
Market Cap C$ 6,596,790
Recent Sedar Documents

Silver Bullet closes $940,000 debenture financing

2024-05-14 13:12 ET - News Release

Mr. John Carter reports


Silver Bullet Mines Corp. has closed on the debenture financing announced April 8, 2024. Please see that press release for the characteristics of the debenture. The amount closed upon is $940,000.

Cash commissions of $6,450 were paid and 53,750 broker warrants were issued in connection with this financing.

The use of proceeds is to continue work at the Buckeye silver mine in Arizona, to begin work at the former-producing Washington mine in Idaho and for working capital.

Work continues at the Buckeye silver mine in Arizona to implement the recommendations from Mine Safety and Health Administration. To date this work has progressed on the expected timeline on the expected budget.

At the mill site, and as per the company's press release of May 2, 2024, test processing continues on the material taken from an arm's-length party's historical mine site. The company intends to be able to provide more definitive data on this material in the near future.

In its press release filed at SEDAR+ on Feb. 26, 2024, the company announced it had reached an extension agreement with the holder of the debenture initially due Feb. 6, 2024, which debenture was extended to June 30, 2024, at a conversion price of 10 cents. This extension agreement was dated Jan. 16, 2024, with interest at 11 per cent per annum effective Jan. 1, 2024.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.