Burlington, Ontario – (News File Corporation – March 25, 2022) – Silver Bullet Mine Corporation (TSXV: SBMI) (‘SBMI’ or ‘Company’) is announcing an extension to close the last installment of its previously announced funding. (Of “funding”). The company is already tied up in two parts of the financing and holds the remaining partnership agreements. The total amount of cash added from these two installments and the remaining subscription agreements is $ 2,518,903.
The TSX Venture Exchange extended until April 1, 2022 to allow SBMI to physically collect all payments for these remaining subscription agreements. This is purely a logistical issue. There will be no new participation agreements in funding.
SBMI Executive Director, A. John Carter said, “We thank the partners for their continued confidence in our business plan and our ability to implement it.” “Funds raised from this funding have been earmarked to convert the Bucky Mine into production, complete our work, and in the near future develop the Washington Mine in Idaho where it can be prepared for mining.”
The total number of participants represents 6,297,258 units, with each unit costing $ 0.40 (forty cents). Each unit has a 24-month joint venture and a full 60 cents (sixty percent) guarantee, each of which is applicable in a joint venture (“financing”). There are no acceleration restrictions in such guarantees.
Financing had a minimum-maximum limit of $ 500,000 and 2,000,000, respectively. Funding was more than 25% of the original maximum.
A total of 79,130 Brokerage Guarantees were issued as referral fees to registrars in respect of financing, such guarantees have the same characteristics as those issued in Financing. A total of 73 73,352 was also paid in cash as a referral fee.
The financing force enables SBMI to implement additions to its Arizona-based factory to accelerate reconstruction. The nature of the Mill Modular allows such additions to be relatively fast. Management is of the opinion that the positive results of such developments justify a slight delay in starting the processing of materials from Boki Mine.
SBMI also announces that Grant Thornton LLP (“Successor Investigator”) has been appointed as the company’s new auditor effective March 22, 2022, replacing McGovern Hurley LLP (“Former Investigator”).
Reporting notices are provided in accordance with National Tool 51-102 (“NI 51-102”) which will be recorded in the SEDAR by the former auditor, subsequent auditor and company.
There are no disagreements or suggestions regarding the auditor’s change (as these terms are defined in NI 51-102) nor are there any reservations or amendments in the former auditor’s reports on the company’s financial statements. Which depends on his period. Was an investigator.
No “Reportable Events” as defined in NI 51-102, relating to an audit of the Company’s last completed fiscal year, nor any period from the Company’s last completed fiscal year to which for the McGovern Hurley LLP Publish audit report and notification date.
wiped out McGovern Hurley LLPAnd selection Grant Thornton LLP, Considered and approved by the Board of Directors of the Company as an auditor of the company.
Finally, SBMI announced the resignation of Ronald Vertel from his official position with the company. He remains a member of the Board of Directors.
For more information, please contact:
Silver Bullet Mines Corporation, CEO
+1 (905) 302-3843
Peter M. Closi
Silver Ballot Mines Corporation, VP of Capital Markets
+1 (416) 890-1232
Precautions and precautionary measures
This news release has some statements that make visual statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectations about future events, and can be identified by words such as “trust”, “expectation”, “hope”, “intentions”, “plans”. , “Projects”, “estimates”, “estimates”, “continuous” and similar statements. Although management believes that the expectations expressed in such future statements are reasonable, there is no guarantee that they will be accurate. .
By their very nature, future vision statements contain assumptions, and are subject to real risks and uncertainties that may lead to future real consequences, conditions, actions or events that differ materially from future vision statements. If and when future vision statements are compiled in this new publication, SBMI will also regulate the material risk factors or assumptions used to develop future vision statements. Except as expressly required by applicable warranty law, SBMI has no obligation to update or revise future vision statements. Future outcomes related to future vision statements may be affected by a number of factors, including but not limited to: the effects of SARS CoV-2 or any other global virus; Rely on key personnel; Completeness of its QA / QA procedures; Continuation of the global supply chain for SBMI goods used in the production and processing of ore; Stakeholder and organizational approvals; Activities and Behaviors of Local Communities to Locate SBMI Properties; Risks of future legal process; Income tax fires, floods and other natural disasters; Inflation rate Availability and funding conditions; Distribution of guarantees; Commodity price Currency movements, especially between USD and CDN; Influence of market interest rate on collateral price; And, potential reduction. SARS CoV-2 and other potential global viruses pose risks that are currently measurable and impossible to define.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118102