Business
Silver Bull Resources Reminds Shareholders of the Annual Meeting of Shareholders on April 12, 2021
VANCOUVER, British Columbia, April 06, 2021 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull” or the “Company”) reminds all
About this update from Silver Bull Resources, Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, April 06, 2021 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull” or the “Company”) reminds all shareholders to vote in advance of the annual meeting of shareholders (the “Meeting”) on Monday, April 12, 2021 at 10:00 a.m. PT. The Company’s board of directors STRONGLY RECOMMENDS that all shareholders vote “FOR” all proposals, particularly the proposal to increase the number of authorized shares. YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAYThe proxy voting deadline is 11:59 p.m. ET on April 11, 2021.We encourage you to vote well in advance of the deadline.For any questions or assistance with voting, please contact management by email at [email protected]. President and CEO Tim Barry states, We have recently announced the private placement into our British Columbia incorporated subsidiary “Arras Minerals Corp.” which holds the option agreement for the Beskauga Project, and the Stepnoe and Ekidos mineral licenses in Kazakhstan. This structure allows us to move forward and finance the Kazakhstan projects. We still need to be able to fund the costs of the Sierra Mojada Project. To do this we need to increase the Company’s authorized share capital. To ensure the Company can continue the development of the Sierra Mojada project, and ensure shareholders continue to have exposure to silver and zinc, it is vital that the Company has access to capital. Without shareholder approval, the Company will have virtually no shares available for issuance to cover the costs of maintaining its interest in the Sierra Mojada project or cover the costs of its general corporate overhead. Management would need to immediately investigate all available options, including, but not limited to, seeking to dispose of the Company’s assets or engage in a business combination. Any such transaction may not be on terms that are favorable to the Company. Continuing in business with virtually no shares available for issuance is not a sustainable path for the Company. On behalf of Silver Bull’s management and board, we thank you for your support on this very important matter. Authorized Share Increase Proposal By increasing the number of authorized shares of Silver Bull common stock now, the Company will be able to act in a timely manner when the need to raise equity capital arises or when the Co...