Silver Bull secures $9.5M litigation funding for NAFTA arbitration claim against Mexico

SILVER BULL RESOURCES, INC.

Agreement with Bench Walk provides up to $9.5M to fund legal costs and operating expenses for arbitration claim against Mexico.
Bench Walk receives contingent share of proceeds: up to 3.5x capital outlay or 30% of award if higher.
Silver Bull seeks ~$178M in damages for unlawful expropriation of Sierra Mojada project, citing 4-year blockade.
Legal counsel is Boies Schiller Flexner (UK) LLP, led by Timothy L. Foden, experienced in mining arbitration.
Funding is non-dilutive to shareholders; security interest granted in Claim proceeds.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SILVER BULL RESOURCES, INC. entered into Litigation Funding Agreement with Bench Walk 23P, L.P. valued at $9.5 million (effective 2023-09-04).

Action: entry
Counterparty: Bench Walk 23P, L.P.
Value: $9.5 million
Effective: 2023-09-04

Exact text from the filing

On September 4, 2023, Silver Bull Resources, Inc. (the “Company”) entered into a Litigation Funding Agreement (the “Funding Agreement”) with Bench Walk 23P, L.P., a Delaware limited partnership (the “Funder”), for the primary purpose of funding certain legal costs

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Source: SEC EDGAR

accession 0001079973-23-001240

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