Silver Bull Announces Reverse Stock Split of Common Stock

VANCOUVER, British Columbia, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (TSX: SVB; OTCQB: SVBL) ("Silver Bull" or the "Company") announced today that its board of directors has approved a 1-for-8 reverse stock split of the Company's issued and outstanding common stock. The reverse stock split will be effective prior to the stock market opening on Friday, September 18, 2020, subject to receipt of all necessary regulatory approvals, including the final approval of the Toronto Stock Exchange ("TSX") and the Nevada Secretary of State ("NSS").

In the reverse stock split, every eight pre-split shares of issued and outstanding common stock of the Company will be converted into one post-split share of common stock, with all fractional shares being rounded up to the nearest whole share. No fractional shares will be issued in connection with the reverse stock split. In connection with the reverse stock split, the 300,000,000 pre-split authorized shares of Silver Bull common stock will be proportionately reduced to 37,500,000 post-split authorized shares of Silver Bull common stock. Proportional adjustments will also be made to the Company's outstanding stock options.

As a result of the reverse stock split, each shareholder's percentage ownership interest in the Company and proportional voting power will remain virtually unchanged, except for minor adjustments that may have resulted from rounding fractional shares into whole shares. In addition, the rights and privileges of the holders of Silver Bull common stock will be unaffected by the reverse stock split.

The reverse stock split will become effective as of 12:01 a.m. PT on September 18, 2020, and Silver Bull common stock will begin trading on the TSX and the OTCQB on a post-split basis at the open of trading on Friday, September 18, 2020, subject to receipt of all necessary regulatory approvals, including the approval of the TSX and the NSS. The Company's ticker symbol on the OTCQB will remain unchanged, although a "D" will be placed at the end of the SVBL ticker symbol (SVBLD) for 20 business days following the reverse stock split. Silver Bull common stock will also be identified under a new CUSIP number (827458209).