UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
| Date of Report (Date of earliest event reported): | March
14, 2023 ( |
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 2, 2023, Mr. Daniel Kunz resigned from and Mr. William Matlack was appointed to the board of directors (the “Board”) of Silver Bull Resources, Inc. (the “Company”). Mr. Kunz resigned as he was not planning to stand for re-election at the 2023 annual general meeting of the Company being held on April 20, 2023.
Mr. Matlack, 68, is a veteran geologist over a 20-year career in the mining industry, working primarily with Santa Fe Pacific Gold Corp. (now Newmont Mining) and Gold Fields. Mr. Matlack was involved in the exploration and development of several world-class gold discoveries in Nevada and California. Later, he was an equity research analyst in metals & mining with Citigroup and BMO Capital Markets, and an investment banker in metals & mining with Scarsdale Equities. From 2012 to 2018, he was interim CEO and a director of Klondex Mines Limited during its transformation from an explorer to gold producer in Nevada. Mr. Matlack has served as a director of Timberline Resources Corp. since October 2019.
There are no family relationships between Mr. Matlack and any director or executive officer of the Company, and there are no transactions between Mr. Matlack and the Company that require disclosure pursuant to Item 404 of Regulation S-K.
In connection with his appointment as a director of the Company, Mr. Matlack was granted 150,000 stock options (the “Options”) in the Company on March 2, 2023 at an exercise price of C$0.195 and with a term of 5 years from the date of grant. The Options vest 1/3 immediately upon grant, 1/3 on March 2, 2024 and 1/3 on March 2, 2025.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Silver Bull resources, inc. | ||
| Date: March 14, 2023 | By: | /s/ Christopher Richards |
| Name: | Christopher Richards | |
| Title: | Chief Financial Officer | |
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