Silver Bull Resources has closed its recently announced private placement financing with Coeur d'Alene Mines Corp.
Coeur d’Alene purchased 7,353,000 shares of Silver Bull common stock at $0.68 per share for total gross proceeds of $5m.
The proceeds of the financing will be used in the continued exploration and advancement of Silver Bull’s Sierra Mojada silver-zinc project in Mexico and for general corporate purposes.
Silver Bull president and CEO Tim Barry said the closing of this financing with Coeur d’Alene is significant as Silver Bull has secured the funds necessary for its current exploration program at Sierra Mojada.
Silver Bull is engaged in the acquisition, exploration and potential development of mineral properties.