Mr. Tim Barry reports
SILVER BULL PROVIDES UPDATE ON ITS ARBITRATION CLAIM AGAINST MEXICO
Silver Bull Resources Inc. has provided an update on progress with its international arbitration claim against the United Mexican States (Mexico).
Since the company's previous update on Sept. 26, 2023, a number of important steps have been achieved in the arbitration process. These include:
- Appointment of a three-person arbitration panel (the tribunal) by the International Centre for Settlement of Investment Disputes (ICSID). The tribunal convened its first session with the parties on Feb. 13, 2024.
- Engagement of a quantum expert by the company to assess the company's claim. The evaluation is under way and will serve as the foundation for determining the value of Silver Bull's claim against Mexico.
- Establishment of a definitive timeline agreed upon by both parties and the ICSID tribunal. Silver Bull anticipates filing its memorial in May, 2024, with the arbitration hearing slated for October, 2025.
- The company and its legal representatives at Boies Schiller Flexner continue to prepare the case. Document analysis and interviews with pertinent personnel are progressing as scheduled.
For background on the basis for the arbitration and continuing updates with respect to the arbitration, please refer to the company's website.
Regarding the arbitration proceedings, Silver Bull is being represented by the global law firm Boies Schiller Flexner, and is financially supported by Bench Walk Advisors via a litigation financing agreement for up to $9.5-million (U.S.) to finance the case.
We seek Safe Harbor.
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