Brian D. Edgar - Sep 9, 2021 Form 4 Insider Report for SILVER BULL RESOURCES, INC. (SVBL)

Role: Chairman, Director
Signature: /s/ Brian D. Edgar
Stock symbol: SVBL
Transactions as of: Sep 9, 2021
Transactions value $: -$10,898
Form type: 4
Date filed: 9/13/2021, 04:29 PM
Next filing: Feb 22, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SVBL	Common Stock	Options Exercise	$103K	+138K	+17.9%	$0.75^*	906K	Sep 10, 2021	Direct
transaction	SVBL	Common Stock	Tax liability	-$109K	-107K	-11.77%	$1.02^*	799K	Sep 10, 2021	Direct	F1
transaction	SVBL	Common Stock	Options Exercise	$190K	+238K	+29.72%	$0.80^*	1.04M	Sep 10, 2021	Direct
transaction	SVBL	Common Stock	Tax liability	-$195K	-191K	-18.47%	$1.02^*	845K	Sep 10, 2021	Direct	F1
holding	SVBL	Common Stock						250K	Sep 9, 2021	By Tortuga Investments Corp.
holding	SVBL	Common Stock						425K	Sep 9, 2021	By 0893306 B.C. Ltd.	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SVBL	Stock Option (Right to Buy)	Options Exercise	$0	-138K	-100%	$0.00^*	0	Sep 9, 2021	Common Stock	138K	$0.75	Direct	F3, F4, F5
transaction	SVBL	Stock Option (Right bo Buy)	Options Exercise	$0	-238K	-100%	$0.00^*	0	Sep 9, 2021	Common Stock	238K	$0.80	Direct	F3, F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Price shown is in US$ and was converted based on the foreign currency exchange rate as of September 9, 2021 (CDN$1.00=US$0.7886).
F2	The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
F3	The exercise price or share amount was adjusted to reflect the one-for-eight reverse stock split of the shares of SVBL common stock completed on September 18, 2020.
F4	This option to purchase common stock was priced in CDN$ at CDN$0.125 (pre-reverse stock split). Exercise price shown is in US$ and was converted based on the foreign currency exchange rate as of April 6, 2017 (CDN$1.00=US$0.7458).
F5	This option to purchase common stock vested in three (3) annual installments of 45,833, 45,833 and 45,834. The first installment vested on April 6, 2017, the second installment vested on April 6, 2018, and the third installment vested on April 6, 2019.
F6	This option to purchase common stock was priced in CDN$ at CDN$0.130 (pre-reverse stock split). Exercise price shown is in US$ and was converted based on the foreign currency exchange rate as of September 19, 2018 (CDN$1.00=US$0.7721).
F7	This option to purchase common stock vested in three (3) annual installments of 79,166, 79,167 and 79,167. The first installment vested on September 19, 2018, the second installment vested on September 19, 2019, and the third installment vested on September 19, 2020.