- Silver Bull Resources (SVB) has completed a private placement into its newly incorporated subsidiary, Arras Minerals Corp.
- Investors purchased 5.035 million shares of Arras Minerals at C$0.50 each for gross proceeds of C$2,517,500
- Silver Bull’s assets in Kazakhstan, including the Beskauga Option Agreement and the Ekidos and Stepnoe mineral licences, have been transferred to Arras Minerals
- In return, Silver Bull received 36 million shares of Arras Minerals and owns approximately 88% of the company
- Silver Bull Resources Inc is an exploration stage company engaged in acquiring and developing mineral properties
- Silver Bull Resources (SVB) opened trading at C$0.95 per share
Silver Bull Resources (SVB) has completed a private placement into its newly incorporated subsidiary, Arras Minerals Corp.
Investors purchased 5.035 million shares of Arras Minerals at C$0.50 each for gross proceeds of C$2,517,500. No placement agent or finder’s fees were paid in connection with the private placement.
Silver Bull’s assets in Kazakhstan, including the Beskauga Option Agreement and the Ekidos and Stepnoe mineral licences, have been transferred to Arras Minerals. In return, Silver Bull received 36 million shares of Arras Minerals and owns approximately 88% of the company, with the remaining 12% owned by the individuals who participated in the private placement.
Proceeds will be used to fund exploration activities, technical studies, permitting on the company’s projects in Kazakhstan and for general and working capital purposes in managing the Kazakhstan projects.
Silver Bull Resources Inc is an exploration stage company engaged in acquiring and developing mineral properties.
Silver Bull Resources (SVB) opened trading at C$0.95 per share.