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Silver Bull Resources Inc. (TSX:SVB,NYSEMKT:SVBL) announced that BHK Mining Corp. now officially owns Dome International Global Inc., its subsidiary.
Silver Bull Resources Inc. (TSX:SVB,NYSEMKT:SVBL) announced that BHK Mining Corp. now officially owns Dome International Global Inc., its subsidiary. Dome indirectly holds a 100-percent interest in the Gabon-based Ndjole manganese-gold project.
As quoted in the press release:
Pursuant to the Transaction, BHK acquired all of the issued and outstanding securities of Dome from a wholly-owned subsidiary of Silver Bull for the purchase price of USD$1,500,000, payable in cash, of which USD$25,000 was previously paid as a non-refundable deposit. In addition, BHK reimbursed Silver Bull USD$75,000 for certain expenses related to the completion of the Transaction. Upon completion of the Transaction, Dome became a wholly-owned subsidiary of BHK. In connection with the Transaction, BHK changed its name from BHK Resources Inc. to BHK Mining Corp.
Tim Barry, president and CEO of Silver Bull, commented:
We are very pleased to close the sale of the Project to BHK and we wish them well in their future endeavors in Gabon. Silver Bull remains fully focused on advancing its flagship Sierra Mojada silver-zinc project in Coahuila, Mexico, and the sale of the Ndjole property provides Silver Bull with an additional USD$1.5 million in non-dilutive capital in what remains a very difficult capital markets environment.
Click here to read the full Silver Bull Resources Inc. (TSX:SVB,NYSEMKT:SVBL) press release.