Northern Rivers Capital Management Inc. completes its investment in SilverBirch

About this update from Silver Bull Resources, Inc.

[{"type":"text","content":"\n\n\n\nTORONTO, Feb. 6 /CNW/ - SilverBirch Inc. (TSXV:SVB) announced today that\nit had successfully closed its previously announced private placement with\nNorthern Rivers Capital Management Inc. As a result of the completion of the\nprivate placement, 1,000,000 Units were issued, raising gross proceeds of\n$300,000.\n\n\nThe private placement is with Northern Rivers Capital Management Inc.,\nand placed within its three funds under the 'Innovation' mandate, which\nincludes the Northern Rivers Innovation Fund LP.\n\n\nThe securities were issued at a subscription price of $0.30 per unit.\nEach unit will consist of one common share of the Corporation and one share\npurchase warrant with each warrant entitling the holder to acquire an\nadditional common share at a price of $0.60 for two years from the date of\nissuance.\n\n\nIn other news, further to our press release of January 9, 2008, the TSX\nVenture Exchange has approved the company's proposal to issue 95,000 common\nshares to a small group of creditors in settlement of outstanding debt\namounting to $28,500.\n\n\nThe Northern Rivers placement carries a finder's fee of 70,000 units, and\nfollowing these transactions the Corporation will have a total of 65,615,436\ncommon shares, issued and outstanding.\n\n\nAbout SilverBirch Inc.\n\n\nToronto-based SilverBirch Inc. is a leading digital media company focused\non the fastest growing sectors of the video game and mobile markets. Operating\ncompanies include Jambo Mobile Solutions, a fully integrated mobile media\ncompany with capabilities in mobile messaging and mobile content delivery, and\nSilverBirch Studios, a multi-platform video game developer and operator of an\nMMORPG (massive multiplayer online role-playing game) called Metin2 (see\nwww.metin2.us). For more information, visit www.silverbirchstudios.com and\nwww.jambomobile.com.\n\n\nAbout Northern Rivers Capital Management Inc.\n\n\nNorthern Rivers Capital Management Inc. is an independent investment\ncompany located in Toronto, Ontario. Our mission is to provide the best\npossible investment products and absolute returns to investors.\n\n\nFounded in 2001, we celebrated our sixth year anniversary in May of 2007.\nOur initial offering, the Northern Rivers Innovation Fund LP, is one of\nCanada's top performing alternative investment funds over five years. We\ncurrently o...

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