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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 6, 2013) - Silver Bull Resources, Inc. (TSX:SVB)(NYSE MKT:SVBL) ("Silver Bull") announced today that it has priced its previously announced offering of units. Silver Bull is offering up to 22,750,000 units at US$0.40 per unit to the public. The gross proceeds from the offering are expected to be up to approximately US$9.1 million, prior to deducting agency commissions and estimated offering expenses. Each unit will be comprised of one share of common stock of Silver Bull (a "Common Share") and one-half of one Common Share purchase warrant, with each whole warrant exercisable to purchase one Common Share, at an exercise price of US$0.55, for a period of 18 months from the closing of this offering. Silver Bull has granted the agents an over-allotment option, exercisable for a period of 30 days following the closing, to increase the size of the offering by up to an aggregate of 2,275,000 units to cover over-allotments, if any. The offering is expected to close on or about February 14, 2013, subject to customary closing conditions and regulatory approvals, including approval of the NYSE MKT and the Toronto Stock Exchange. PI Financial Corp. and Stifel Nicolaus Canada Inc. are acting as co-lead placement agents for the offering, and Roth Capital Partners, LLC is a co-placement agent in the United States in connection with this offering. |
