Silver Bullet Mines Corp. Announces Successful Financing

Rhea-AI Summary

Silver Bullet Mines Corp. (SBMCF) has successfully closed the first tranche of its financing, raising $514,000 through the issuance of 4,283,333 Units at $0.12 per Unit. Each Unit includes one common share and one full warrant exercisable at $0.16 with a 36-month term, with no acceleration clause.

The funds will be allocated to accelerate development programs at two key properties: the Super Champ Mine in Arizona and the Washington Mine Property in Idaho, as well as for working capital. The company may pay referral fees to arm's length persons in connection with the Unit issuance.

Positive

• Secured $514,000 in new financing
• Warrants have no acceleration clause, providing stability for investors
• Funds allocated for development of two mining properties

Negative

• Potential shareholder dilution from 4,283,333 new units
• Additional dilution possible if warrants are exercised

News Market Reaction

-0.68%

1 alert

-0.68% News Effect

On the day this news was published, SBMCF declined 0.68%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Burlington, Ontario--(Newsfile Corp. - January 2, 2025) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (SBMI or the Company) announces it has closed on $514,000 of its previously announced financing. This first tranche closing represents 4,283,333 Units, with each Unit priced at $0.12 (twelve cents). Each Unit consists of one common share and one full $0.16 (sixteen cent) warrant with a 36-month term, with each such warrant being exercisable into a common share (the "Financing"). There is no acceleration clause on the warrants.

These funds will be used to finance an accelerated development program at the Super Champ Mine in Arizona, an accelerated development program at the Washington Mine Property in Idaho, and working capital.

Referral fees may be paid to arm's length persons in connection with the issuance of the Units.

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/235877

FAQ

How much did Silver Bullet Mines (SBMCF) raise in its recent financing?

Silver Bullet Mines raised $514,000 through the issuance of 4,283,333 Units priced at $0.12 per Unit.

What are the terms of SBMCF's January 2025 warrant offering?

Each warrant is exercisable at $0.16 with a 36-month term, with no acceleration clause.

How will SBMCF use the proceeds from its January 2025 financing?

The funds will be used to accelerate development programs at the Super Champ Mine in Arizona and the Washington Mine Property in Idaho, as well as for working capital.

What is the structure of SBMCF's January 2025 financing units?

Each Unit consists of one common share and one full warrant priced at $0.12, with the warrant being exercisable at $0.16 for 36 months.