Silver Bullet Mines Announces Closing on Oversubscribed Debenture
Silver Bullet Mines Corp. (TSXV: SBMI, OTCQB: SBMCF) announced the closing of an oversubscribed Debenture financing amounting to $1,118,000. Cash commissions of $13,500 were paid, and 135,000 broker warrants were issued.
Proceeds will be used for ongoing work at the Buckeye Silver Mine in Arizona, former Washington Mine in Idaho, and processing material from a third-party property. The company has also entered into a lease agreement for the third-party property after completing a due diligence review, focusing resources to produce saleable product from this Land due to better economic efficiencies.
This financing enables SBMI to continue operations at both the Buckeye and Washington Mines.
Silver Bullet Mines Corp. (TSXV: SBMI, OTCQB: SBMCF) ha annunciato la chiusura di un finanziamento con obbligazioni sovrascritto, per un importo di $1.118.000. Sono state pagate commissioni in contante di $13.500 e sono stati emessi 135.000 warrant per broker.
I proventi saranno utilizzati per il lavoro in corso presso la Buckeye Silver Mine in Arizona, l'ex Washington Mine in Idaho e per elaborare materiale proveniente da una proprietà di terzi. Inoltre, l'azienda ha stipulato un contratto di locazione per la proprietà di terzi dopo aver completato una revisione della due diligence, focalizzando le risorse per produrre un prodotto vendibile da questa terra grazie a migliori efficienze economiche.
Questo finanziamento consente a SBMI di continuare le operazioni sia alla Buckeye che alla Washington Mine.
Silver Bullet Mines Corp. (TSXV: SBMI, OTCQB: SBMCF) anunció el cierre de un financiamiento de deuda con una demanda superior, por un monto de $1,118,000. Se pagaron comisiones en efectivo de $13,500 y se emitieron 135,000 garantías para corredores.
Los ingresos se utilizarán para el trabajo en curso en la Buckeye Silver Mine en Arizona, la antigua Washington Mine en Idaho y para procesar material de una propiedad de terceros. La empresa también ha firmado un acuerdo de arrendamiento para la propiedad de terceros tras completar una revisión de debida diligencia, centrando recursos para producir un producto vendible de esta tierra debido a mejores eficiencias económicas.
Este financiamiento permite a SBMI continuar las operaciones tanto en la Buckeye como en la Washington Mine.
Silver Bullet Mines Corp. (TSXV: SBMI, OTCQB: SBMCF)는 채권 금융의 초과 구독 마감 소식을 발표했습니다. 총액은 $1,118,000입니다. 현금 수수료로 $13,500이 지급되었으며, 135,000 개의 중개인 보증서가 발급되었습니다.
수익금은 아리조나의 버키아이 실버 마인, 아이다호의 구 와싱턴 마인 및 제3자 소유지에서의 자재 처리 작업에 사용될 예정입니다. 회사는 또한 세부 심사를 완료한 후 제3자 소유지에 대한 임대 계약을 체결했으며, 더 나은 경제적 효율로 인해 이 지역에서 판매 가능한 제품을 생산하기 위해 자원을 집중하고 있습니다.
이 자금 조달은 SBMI가 버키아이와 와싱턴 마인에서의 운영을 지속할 수 있도록 합니다.
Silver Bullet Mines Corp. (TSXV: SBMI, OTCQB: SBMCF) a annoncé la clôture d'un financement obligataire en sursouscription d'un montant de 1 118 000 $. Des commissions en espèces de 13 500 $ ont été versées, et 135 000 bons de souscription pour courtiers ont été émis.
Les produits seront utilisés pour les travaux en cours à la Buckeye Silver Mine en Arizona, à l'ancienne Washington Mine en Idaho, et pour le traitement de matériel provenant d'une propriété tierce. L'entreprise a également conclu un contrat de location pour la propriété tierce après avoir effectué un examen de diligence, en concentrant les ressources pour produire un produit vendable de ce terrain en raison de meilleures efficacités économiques.
Ce financement permet à SBMI de continuer ses opérations à la fois dans la Buckeye et la Washington Mine.
Silver Bullet Mines Corp. (TSXV: SBMI, OTCQB: SBMCF) gab die Schließung einer überzeichneten Anleihen-Finanzierung in Höhe von 1.118.000 $ bekannt. Es wurden Barprovisionen von 13.500 $ gezahlt, und 135.000 Broker-Warrants wurden ausgegeben.
Die Einnahmen werden für laufende Arbeiten in der Buckeye Silbermine in Arizona, der ehemaligen Washington Mine in Idaho sowie für die Verarbeitung von Material einer Drittanbieter-Eigentum verwendet. Das Unternehmen hat auch einen Mietvertrag für die Drittanbieter-Eigentum unterzeichnet, nachdem es eine Due-Diligence-Prüfung abgeschlossen hat, und konzentriert Ressourcen auf die Produktion verkaufsfähiger Produkte aus diesem Grundstück aufgrund besserer wirtschaftlicher Effizienzen.
Diese Finanzierung ermöglicht es SBMI, die Betriebe sowohl in der Buckeye- als auch in der Washington-Mine fortzusetzen.
- Closed oversubscribed Debenture financing of $1,118,000.
- Entered into a lease agreement for third-party property with positive due diligence results.
- Focus on producing saleable product from the leased Land due to better economic efficiencies.
- Paid $13,500 in cash commissions and issued 135,000 broker warrants.
Burlington, Ontario--(Newsfile Corp. - October 21, 2024) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to announce it has closed on the Debenture financing announced August 2, 2024. Please see that press release for the characteristics of the Debenture. The amount closed upon is
Cash commissions of
The use of proceeds is to continue work at the Buckeye Silver Mine in Arizona, to continue work at the former producing Washington Mine in Idaho, to mine and process material from the third party property as described in the Company's news release of September 24, 2024, and for working capital.
In its news releases of September 24, 2024 and October 9, 2024, the Company announced it had entered into a relationship with an arm's length third party for the processing of mineralized material from that third party's nearby property (the "Land"). The Company has completed its due diligence review of the Land with regards to the mineralized silver material it may contain. As a result of the positive results of that due diligence, the Company is pleased to announce it has entered into a lease agreement for the Land. Such lease has no end date and can only be terminated by SBMI, in consideration for a gross royalty on the sale of product produced by SBMI from the Land.
Due to what SBMI reasonably believes to be better economic efficiencies, SBMI intends to focus the majority of its resources on producing saleable product from the Land. The closing of the financing referred to above gives SBMI the ability to also work at the Buckeye Mine and at the Washington Mine in Idaho.
For further information, please contact:
John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232
Cautionary and Forward-Looking Statements
This 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", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI's properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227228
FAQ
What is the amount of the Debenture financing closed by SBMCF?
What will the proceeds from SBMCF's Debenture financing be used for?
What is the significance of the lease agreement announced by SBMCF?
How much were the cash commissions paid by SBMCF in the Debenture financing?
