The Prospector News

Silver Bullet Mines Announces Closing on Oversubscribed Debenture

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Silver Bullet Mines Announces Closing on Oversubscribed Debenture

 

 

 

 

 

Silver Bullet Mines Corp. (TSX-V: SBMI) (OTCQB: SBMCF)  is pleased to announce it has closed on the Debenture financing announced August 2, 2024. Please see that press release for the characteristics of the Debenture. The amount closed upon is $1,118,000.

 

Cash commissions of $13,500 were paid and 135,000 broker warrants were issued in connection with this financing.

 

The use of proceeds is to continue work at the Buckeye Silver Mine in Arizona, to continue work at the former producing Washington Mine in Idaho, to mine and process material from the third party property as described in the Company’s news release of September 24, 2024, and for working capital.

 

In its news releases of September 24, 2024 and October 9, 2024, the Company announced it had entered into a relationship with an arm’s length third party for the processing of mineralized material from that third party’s nearby property. The Company has completed its due diligence review of the Land with regards to the mineralized silver material it may contain. As a result of the positive results of that due diligence, the Company is pleased to announce it has entered into a lease agreement for the Land. Such lease has no end date and can only be terminated by SBMI, in consideration for a gross royalty on the sale of product produced by SBMI from the Land.

 

Due to what SBMI reasonably believes to be better economic efficiencies, SBMI intends to focus the majority of its resources on producing saleable product from the Land. The closing of the financing referred to above gives SBMI the ability to also work at the Buckeye Mine and at the Washington Mine in Idaho.

 

Posted October 21, 2024

Share this news article

MORE or "UNCATEGORIZED"


ESGold Announces Closing of C$8.0 Million Brokered LIFE Offering

ESGold Corp. (CSE: ESAU) (FSE: Z7D) is pleased to announce the c... READ MORE

September 18, 2025

NevGold Announces Updated Open-Pit, Heap-Leach Gold Mineral Resource Including 1,186,000 ozs Indicated and 548,000 ozs Inferred At Nutmeg Mountain in Idaho

NevGold Corp.  (TSX-V:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is ple... READ MORE

September 18, 2025

Western Gold Intersects High-Grade Gold Within Its Newly Discovered Porphyry-Breccia Pipe at Ardlochan Prospect

WESTERN GOLD EXPLORATION LTD. (TSX-V: WGLD) is pleased to announc... READ MORE

September 18, 2025

Bayhorse Silver Closes Its Recently Announced 25 Million Unit Private Placement For Ongoing Work at The Bayhorse Silver Mine and IP Survey On Its Adjacent Pegasus Project, Idaho, USA

Bayhorse Silver Inc, (TSX-V: BHS) (OTCQB: BHSIF) (FSE: 7KXN) ann... READ MORE

September 18, 2025

The City of Duparquet and First Mining Gold Sign Historic Memorandum of Understanding for Community Development and Collaboration on the Duparquet Gold Project

The City of Duparquet and First Mining Gold Corp. (TSX: FF) (OTCQ... READ MORE

September 18, 2025

Copyright 2025 The Prospector News