{"id":389315,"date":"2020-11-30T07:03:29","date_gmt":"2020-11-30T12:03:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389315"},"modified":"2020-11-30T07:03:29","modified_gmt":"2020-11-30T12:03:29","slug":"silver-bull-announces-independent-proxy-advisory-firms-iss-and-glass-lewis-recommendations-for-both-proposals-at-upcoming-special-meeting-of-shareholders","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/silver-bull-announces-independent-proxy-advisory-firms-iss-and-glass-lewis-recommendations-for-both-proposals-at-upcoming-special-meeting-of-shareholders\/","title":{"rendered":"Silver Bull Announces Independent Proxy Advisory Firms ISS and Glass Lewis Recommendations \u201cFOR\u201d Both Proposals at Upcoming Special Meeting of Shareholders"},"content":{"rendered":"
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VANCOUVER, British Columbia, Nov. 30, 2020 (GLOBE NEWSWIRE) — Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (\u201cSilver<\/strong>Bull<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) is pleased to report that, in respect of its upcoming special meeting of shareholders, both Institutional Shareholder Services (\u201cISS<\/strong>\u201d) and Glass, Lewis & Co. (\u201cGlass Lewis<\/strong>\u201d), the leading independent proxy advisor firms who provide voting recommendations to institutional investors, have recommended that the Company\u2019s shareholders vote FOR<\/u><\/strong> the proposals to increase the number of authorized shares of Silver Bull common stock and to change the Company\u2019s name to MaxMetals Corp. (collectively, the \u201cproposals<\/strong>\u201d).<\/p>\n

In their recommendations to shareholders on voting FOR<\/u><\/strong> the increase in the number of authorized shares, both ISS and Glass Lewis agreed with the Company\u2019s board of directors on the need for additional shares to enable the Company to raise additional capital for furthering the development of the Sierra Mojada Project in Mexico and the Beskauga property in Kazakhstan. Glass Lewis further noted that \u201cit would be in shareholders\u2019 best interest to provide the board with flexibility to obtain additional capital\u2014including through participation in private placement transactions\u2014going forward.\u201d<\/p>\n

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\n Authorized Share Increase Proposal<\/u>
\n <\/strong>\n <\/p>\n

By increasing the number of authorized shares of Silver Bull common stock now, the Company will be able to act in a timely manner when the need to raise equity capital arises or when the Company\u2019s board of directors believes it is in the best interests of the Company and shareholders to take action, without the delay and expense that would be required at that time to obtain shareholder approval to increase the authorized shares. Business purposes for which the Company could seek to raise additional capital including furthering the development of the Sierra Mojada project in Mexico and the Beskauga property (and other properties) located in Kazakhstan. Virtually all junior exploration companies like the Company remain as viable companies and conduct their mineral exploration activities by raising funds by issuing shares from time to time. In the absence of an affirmative vote to increase the number of authorized shares of Silver Bull common stock, the Company will have an insufficient number of authorized shares to raise funds to fund general corporate overhead or cover the costs associated with maintaining its interests in the Sierra Mojada project in Mexico or its potential mineral interests in Kazakhstan.<\/p>\n

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\n Name Change Proposal<\/u>
\n <\/strong>\n <\/p>\n

The Company\u2019s board of directors believes that the proposed name change from Silver Bull Resources, Inc. to MaxMetals Corp. is appropriate to better describe the Company\u2019s focus and anticipated exploration activities.<\/p>\n

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\n Silver Bull Special Meeting of Shareholders<\/u>
\n <\/strong>\n <\/p>\n

The special meeting of shareholders of Silver Bull is scheduled for 10:00 a.m. PT<\/strong> on Wednesday, December\u00a016, 2020<\/strong>, at the Company\u2019s offices at 777 Dunsmuir Street, Suite 1610, Vancouver, British Columbia.<\/p>\n

Additional information concerning the proposals can be found in the definitive proxy statement dated November\u00a06, 2020. An electronic copy of the definitive proxy statement is available on the Company\u2019s website at www.silverbullresources.com<\/u><\/a>, on the Company\u2019s EDGAR profile at www.sec.gov<\/u><\/a>, and on its SEDAR profile at www.sedar.com<\/u><\/a>.<\/p>\n

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\n How to Vote Your Shares<\/u>
\n <\/strong>\n <\/p>\n