| NEWS RELEASE | February 5, 2013 |
SILVER BULL ANNOUNCES PROPOSED PUBLIC OFFERING OF UNITS
Vancouver, British Columbia - Silver Bull Resources, Inc. (TSX: SVB, NYSE MKT: SVBL) ("Silver Bull") announced today a marketed public offering of units. Each unit will be comprised of one share of common stock of Silver Bull (a "Common Share") and one-half of one Common Share purchase warrant, with each whole warrant exercisable to purchase one Common Share, at an exercise price to be determined in the context of the market, for a period of 18 months from the closing of this offering. The pricing and number of units to be offered will be determined in the context of the market. PI Financial Corp. and Stifel Nicolaus Canada Inc. are acting as co-lead placement agents for the offering, and Roth Capital Partners, LLC is a co-placement agent in the United States in connection with this offering.
Silver Bull intends to use the net proceeds from the offering for the preparation of a resource update, metallurgical studies, commencement of a preliminary economic assessment and general working capital requirements with respect to advancement of its Sierra Mojada Silver Project in Mexico.
Silver Bull will apply to list the Common Shares to be issued in the offering and upon the exercise of the warrants on the TSX and NYSE MKT, but does not intend to apply to list the units or warrants to be issued in the offering on any stock exchange. Listing will be subject to satisfying all of the requirements of such stock exchanges. As this offering is subject to market conditions, there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The offering is being made pursuant to a shelf registration statement on Form S-3 that Silver Bull has filed with the Securities and Exchange Commission ("SEC") and an MJDS base shelf prospectus that has been filed with the security regulatory authorities in each of the provinces of British Columbia, Alberta and Ontario (the "Canadian Securities Authorities"), both of which are effective. Any offer or sale will be made only by means of a U.S. prospectus supplement or a Canadian MJDS prospectus supplement to be filed with the Canadian Securities Authorities. A preliminary U.S. prospectus supplement and a preliminary Canadian MJDS prospectus supplement containing important information relating to these securities have been filed with the SEC and the Canadian Securities Authorities, respectively. The preliminary prospectus supplements are still subject to completion or amendment. A final prospectus supplement relating to the offering will be filed with the SEC, and a final Canadian MJDS prospectus supplement relating to the offering will be filed with the Canadian Securities Authorities.
Copies of the preliminary prospectus supplement, the preliminary Canadian MJDS prospectus supplement and, when available, copies of the final prospectus supplement, the final Canadian MJDS prospectus supplement and the accompanying base shelf prospectuses relating to these securities may be obtained from: |
