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Silver Bullet Mines Financing for High-Grade Gold and PGMs
Burlington, Ontario--(Newsfile Corp. - October 21, 2022) - On September 26, 2022 Silver Bullet...
About this update from Silver Bullet Mines Corp
[{"type":"text","content":"Silver Bullet Mines Financing for High-Grade Gold and PGMsBurlington, Ontario--(Newsfile Corp. - October 21, 2022) - On September 26, 2022 Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') disclosed it had found significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate. On October 18, 2022 SBMI announced 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, Arizona.To allow SBMI to exploit the palladium, platinum, rhodium, osmium and gold, in addition to the original silver targets, SBMI announces its intention to carry out a non-brokered financing of Units. Each Unit will be priced at $0.20 (twenty cents) and will comprise of one common share and one full 30-cent (thirty cents) warrant with a 24-month term, with each such warrant being exercisable into a common share (the \"Financing\").The target amount for the Financing will be $600,000 (six hundred thousand dollars), with the number of Units to issue as a result of the Financing being 3,000,000. Units will be allocated on a first come, first served basis although SBMI retains the right to accept, reject or modify subscription agreements as it sees fit. The Financing is subject to regulatory approval.SBMI currently owns a gravity mill near Globe, Arizona 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.For further information, please contact:John CarterSilver Bullet Mines Corp., [email protected]+1 (905) 302-3843Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets [email protected]+1 (416) 890-1232Cautionary and Forward-Looking StatementsThis news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as \"believe\", \"expects\", \"will\", \"intends\", \"plans\", \"projects\", ...