Silver Bull Announces Voting Results of Annual Meeting of Shareholders
Silver Bull Resources (SVBL) held its annual shareholder meeting on April 19, 2022, with 44.49% of shares represented. Key outcomes included the re-election of directors Brian Edgar (96.61%), Timothy Barry (96.59%), Daniel Kunz (96.62%), and David Underwood (96.65%). The appointment of Smythe LLP as the independent public accounting firm was ratified with 98.68% approval. Shareholders supported the executive compensation plan (93.95%) and adopted amendments to the stock option plan (93.16%). The meeting reflects strong shareholder engagement and trust in management.
- Strong shareholder representation of 44.49% at the annual meeting.
- Re-election of all director nominees with over 96% approval.
- Smythe LLP appointed as the independent accounting firm with 98.68% approval.
- Shareholder support for executive compensation at 93.95%.
- Amendment to the stock option plan approved with 93.16% support.
- None.
VANCOUVER, British Columbia, April 28, 2022 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull” or the “Company”) is pleased to announce the detailed voting results of the proposals considered at its annual meeting of shareholders held on April 19, 2022 (the “Meeting”). A total of 15,598,424 or
The following nominees, as listed in Silver Bull’s proxy statement, were re-elected as directors of the Company:
Director | Votes For | % | Withheld Votes | % |
Brian Edgar | 10,829,832 | 379,569 | ||
Timothy Barry | 10,827,432 | 381,969 | ||
Daniel Kunz | 10,830,821 | 378,580 | ||
David Underwood | 10,833,956 | 375,445 |
Silver Bull is also pleased to announce that the Company’s shareholders have ratified and approved the appointment of Smythe LLP, as the Company’s independent registered public accounting firm, for the fiscal year ending October 31, 2022 (15,392,503 or
The Company’s shareholders also voted to approve, on a non-binding advisory basis, the compensation of the Company’s named executive officers (10,531,387 or
Finally, a majority of the Company's disinterested shareholders voted to approve and adopt the Company's amendment to the 2019 stock option and stock bonus plan (10,442,723 or
Full details of the proposals are fully described in the Company’s definitive proxy statement filed on February 25, 2022 available on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov.
About Silver Bull
Silver Bull’s primary asset is the Sierra Mojada deposit located in Coahuila, Mexico. Sierra Mojada is an open pittable oxide deposit with a NI 43-101 compliant Measured and Indicated “global” Mineral Resource of 70.4 million tonnes grading
The constraining pit was optimised and calculated using a NSR cut-off based on a silver price of US
CATEGORY | TONNES (MT) | AG (G/T) | CU (%) | PB (%) | ZN (%) | AG (MOZS) | CU (MLBS) | PB (MLBS) | ZN (MLBS) |
MEASURED | 52.0 | 39.2 | 65.5 | 45.9 | 379.1 | 4,589.3 | |||
INDICATED | 18.4 | 37.0 | 21.9 | 10.8 | 87.0 | 764.6 | |||
TOTAL M&I | 70.4 | 38.6 | 87.4 | 56.8 | 466.1 | 5,353.9 | |||
INFERRED | 0.1 | 8.8 | 0.02 | 0.04 | 0.4 | 10.7 |
For a full summary of the Sierra Mojada resource, please refer to Silver Bull’s press release dated October 31, 2018 and filed on its profile at www.SEDAR.com, or by visiting the following link:
The technical information of this news release has been reviewed and approved by Tim Barry, a Chartered Professional Geologist (CPAusIMM), and a qualified person for the purposes of National Instrument 43-101.
On behalf of the Board of Directors
“Tim Barry”
Tim Barry, CPAusIMM
Chief Executive Officer, President and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@silverbullresources.com
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This press release uses the terms “measured resources”, “indicated resources”, and “inferred resources” which are defined in, and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized by the SEC. The estimation of measured, indicated and inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.
Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject NI 43-101.
Cautionary note regarding forward looking statements: This news release contains forward-looking statements regarding future events and Silver Bull’s and Arras’s future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding the Mineral Resource estimates for the Sierra Mojada projects and the development of the project. These statements are based on current expectations, estimates, forecasts, and projections about Silver Bull’s and Arras’s exploration projects, the industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull’s management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including such factors as whether management’s focus will be as described in this news release, the results of exploration activities and whether the results continue to support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption “Risk Factors” in Silver Bull’s Annual Report on Form 10-K for the fiscal year ended October 31, 2021, our Quarterly Report on Form 10-Q for the interim period ended January 31, 2022, and our other periodic and current reports filed with the SEC and available on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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