Silver Bullet Mines Corp. Announces Adoption of Semi-Annual Reporting and Reliance on Quarterly Reporting Exemption Under Coordinated Blanket Order 51-933
Rhea-AI Summary
Silver Bullet Mines (OTCQB: SBMCF) will shift from quarterly to semi-annual financial reporting under Coordinated Blanket Order 51-933, starting with the three-month period ended March 31, 2026. The first semi-annual period ends December 31, 2026.
The company also granted a net smelter royalty on Arizona lead and zinc production for US$250,000, at 20% of gross lead and zinc value (less deductions), capped at US$100,000 per any 12-month period.
Positive
- Shift to semi-annual reporting expected to reduce administrative and financial reporting costs
- Company confirms annual revenues are less than US$10 million, qualifying for CBO 51-933
- US$250,000 cash consideration received for granting Arizona lead and zinc NSR
- NSR payments capped at US$100,000 over any 12-month period, limiting annual royalty outflows
Negative
- Investors will no longer receive first- and third-quarter interim financial statements or MD&A
- NSR requires paying 20% of gross value of lead and zinc shipped, reducing future mine cash flows
News Market Reaction – SBMCF
In the May 21 session, SBMCF declined 10.63%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Burlington, Ontario--(Newsfile Corp. - May 21, 2026) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ("SBMI" or "the Company") announces that it has elected to adopt semi-annual financial reporting in reliance on Coordinated Blanket Order 51-933, Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers ("CBO 51-933")
CBO 51-933 allows eligible venture issuers to voluntarily transition from quarterly to semi-annual financial reporting. By adopting semi-annual reporting, the Company intends to reduce the administrative and financial burden associated with quarterly reporting and to allocate additional time and resources toward advancing its business objectives.
The Company confirms that it meets the eligibility criteria under CBO 51-933, as it is a venture issuer with its securities listed on a recognized exchange, has annual revenues of less than
Pursuant to CBO 51-933, the Company has elected not to file interim financial reports and related management's discussion and analysis ("MD&A") for its first and third quarters. The first interim period for which the Company will rely on the exemption is the three-month period ended March 31, 2026, for which the Company will not file interim financial statements or related MD&A. The Company's first semi annual reporting period will be the six-month period ending December 31, 2026. The Company intends to continue reporting on a semi-annual basis, subject to the continued availability of CBO 51-933 and the Company remaining eligible thereunder.
The Company will continue to file audited annual financial statements and related MD&A, as well as interim financial statements and related MD&A for its six-month periods, in accordance with applicable securities laws. The Company will also continue to comply with its timely disclosure obligations under National Instrument 51-102 Continuous Disclosure Obligations.
This news release is being filed pursuant to Coordinated Blanket Order 51 – 933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.
Additionally, the SBMI announces that in consideration for
For further information:
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 may 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 mineralized material; the results of exploration and development activities; shareholder, audit 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/298342