Silver Bullet investor Richardson owns 37.94M shares

Executive Summary

• George David Richardson (the acquiror) filed an early‑warning report disclosing a series of private‑placement debenture purchases, warrant issuances, share acquisitions and option grants that collectively increased its stake in Silver Bullet Mines Inc. to 23.74 % of the diluted share count.
• The transactions span from May 2024 through October 2025 and involve multiple convertible debentures (total principal $2.85 M), millions of warrants, and several option grants totaling 1.25 M options.
• The acquiror states the securities were acquired for investment purposes and may be further bought or sold, indicating ongoing monitoring of Silver Bullet’s performance.

Key Details

• May 13 2024: Acquired a $350,000 convertible debenture + 3.5 M warrants (conversion price 8‑12¢; warrant exercise price 12‑16¢ over three years).
• Oct 16 2024: Acquired a $750,000 debenture + 7.5 M warrants (conversion price 10‑14¢; warrant exercise price 16‑20¢).
• Nov 13 2024: Converted interest on debenture to purchase 183,607 shares at 12.04¢ per share.
• Dec 27 2024: Private placement of 833,333 shares and 833,333 warrants (warrant exercise price 16¢).
• Feb 14 2025: Acquired 1.25 M shares + 1.25 M warrants (exercise price 16¢).
• Mar 19 2025: Received 1,071,429 shares at 14¢ per share as compensation for services.
• Apr 9 2025: Purchased 500,000 shares in the public market at 18.74¢ per share.
• May 12 2025: Converted debenture interest to acquire 130,533 shares; also converted a separate debenture to obtain 4,375,000 shares.
• May 20 2025: Private placement of 1,388,889 shares + 1,388,889 warrants (warrant exercise price 22¢).
• June 27 2025: Acquired 187,500 shares at 16¢ per share as compensation for services.
• Aug 14 2025: Private placement of 1,714,286 shares + 1,714,286 warrants (exercise price 28¢).
• Sept 19 2025: Granted 250,000 options exercisable at 30¢ until Sept 19 2030.
• Sept 22 2025: Acquired 113,208 shares at 26.50¢ per share as compensation for services.

• Oct 15 2025: Converted a debenture to obtain 7.5 M shares.

• Option Grants:

• May 28 2025 – 500,000 options @10¢ (expires May 13 2029).
• Feb 12 2025 – 500,000 options @16¢ (expires Feb 12 2030).

• Sept 19 2025 – 250,000 options @30¢ (expires Sept 19 2030).

• Aggregate Ownership Post‑Transactions:

• Direct/indirect holdings: 20,086,521 shares.
• Warrants exercisable: 16,611,508 shares.
• Options exercisable: 1,250,000 shares.

• Total potential ownership (including exercised securities): 37,948,029 shares = 23.74 % of the 142,042,737 diluted share count as of Oct 16 2025.

• Purpose Statement: Acquisitions were made for investment purposes; the acquiror may monitor Silver Bullet’s performance and consider further purchases or disposals in compliance with securities regulations.

Notable Quotes

(No direct quotes provided in the release.)