Item 8.01 Other Events.
On March 2, 2023, Silver Bull Resources, Inc. ("Silver Bull" or the "Company")
filed a Notice of Intent with Mexico's Directorate General of Foreign Investment
to initiate a legacy North American Free Trade Agreement ("NAFTA") claim under
Annex 14-C of the United States-Mexico-Canada Agreement ("USMCA") to recover
economic damages resulting from the blockade of the Company's Sierra Mojada
project by a cooperative of local miners called Sociedad Cooperativa de
Exploración Minera Mineros Norteños, S.C.L. ("Mineros Norteños"). Even though
the Company (i) has received numerous judgments in its favor issued by federal
courts in Mexico, (ii) filed criminal complaints with the State of Coahuila, and
(iii) made numerous requests and demands of Mexican governmental agencies to
intervene and terminate the blockade, Mineros Norteños has continued to block
access to the facilities at Sierra Mojada since September 2019. Silver Bull is
seeking to recover no less than US$178 million in damages that the Company
claims it has suffered as a result of a breach by Mexico of its NAFTA
obligations.
Item 7.01 Regulation FD Disclosure.
On March 2, 2023, the Company issued a press release regarding the legacy NAFTA
claim under the USMCA to recover economic damages resulting from the blockade. A
copy of the press release is furnished as Exhibit 99.1 hereto and is
incorporated herein by reference.
The information set forth in this Item 7.01, including the information set forth
in Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), nor shall it be deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 News release, dated as of March 2, 2023
104 Cover Page Interactive Data File (formatted as Inline XBRL and
contained in Exhibit 101).
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