VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 20, 2017) – Silver Bull Resources, Inc. (TSX:SVB)(OTCQB:SVBL) (“Silver Bull” or the “Company“) is pleased to announce the detailed voting results on the items of business considered at its Annual General Meeting of Shareholders held on April 19, 2017 (the “Meeting“). A total of 99,341,550 or 55.84% of the Company’s issued and outstanding shares were represented at the Meeting. The following nominees, as listed in Silver Bull’s Management Information Circular, were re-elected as directors of the Company.
| Director | Votes For |
% | Withheld Votes |
% | ||
| Timothy Barry | 43,500,587 | 95.70 | % | 1,955,371 | 4.30 | % |
| Brian Edgar | 43,955,894 | 96.70 | % | 1,500,064 | 3.30 | % |
| Daniel Kunz | 43,933,587 | 96.65 | % | 1,522,371 | 3.35 | % |
| John McClintock | 43,940,224 | 96.67 | % | 1,515,734 | 3.33 | % |
Silver Bull is pleased to announce that the Shareholders have ratified and approved the appointment of Smythe LLP, as auditors of the Company (94,311,610 or 94.94% voted “For”, 4,047,254 or 4.07% voted “Against” and 982,686 or 0.99% abstained from voting) until the next annual meeting of shareholders or until their successor is appointed, at a remuneration to be fixed by the Company’s directors.
The Shareholders voted to approve, on a non-binding advisory basis, the Company’s executive compensation package (41,776,173 or 91.90% voted “For”, 3,312,143 or 7.29% voted “Against”, and 367,642 or 0.81% abstained from voting).
A majority of shareholders voted, on a non-binding advisory basis, for an annual vote on executive compensation, rather than a triennial vote as proposed by the Company (21,198,658 or 46.64% voted “3 Years”, 390,758 or 0.86% voted “2 Years”, 22,889,561 or 50.36% voted “1 Year” and 976,981 or 2.14% abstained from voting). In response to the voting results and other factors, the Company’s Board of Directors determined on April 19, 2017, that the Company will hold an advisory vote on named executive officer compensation every year until the Company’s Board of Directors decides to hold the next shareholder advisory vote on the frequency of advisory votes, which shall be no later than the Company’s annual general meeting of shareholders in 2023.
Full details of all proposals are fully described in the Company’s Management Information Circular available on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov.
About Silver Bull: Silver Bull is a mineral exploration company whose shares are listed on the Toronto Stock Exchange and trade on the OTCQB in the United States, and is based out of Vancouver, Canada. The “Sierra Mojada” project is located 150 kilometers north of the city of Torreon in Coahuila, Mexico, and is highly prospective for silver and zinc.
On behalf of the Board of Directors
Tim Barry, CPAusIMM, Chief Executive Officer, President and Director
Investor Relations
+1 604 687 5800
info@silverbullresources.com