Current Report Filing (8-k)
June 23 2017 - 3:55PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: June 22, 2017
(Date of earliest
event reported)
SILVER DRAGON RESOURCES
INC.
(Exact name of registrant as specified in
its charter)
0-29657
(Commission File Number)
Delaware
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33-0727323
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(State or other jurisdiction of
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(IRS Employer Identification No.)
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incorporation or organization)
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200 Davenport Road
Toronto, Ontario, M5R
1J2
(Address of Principal Executive Offices) (Zip Code)
(416) 223-8500
(Registrant's telephone number,
including area code)
Not Applicable
(Former name or former
address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
[ ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4c))
Item 8.01 Other Events.
Silver Dragon Resources Inc. (the Company) has obtained the
KPMG Advisory (China) Limited (KPMG) independent appraiser valuation report
and the Beijing Shengda Industrial Group Ltd. (the Purchaser) Price Waterhouse
Coopers (PWC) independent appraiser valuation report to assess the fair market
value of the Dadi mining rights (the Mining Rights) as of March 1, 2017 (the
Valuation Date).
The valuation results of the Dadi Mining Rights issued by KPMG
and the valuation report issued by PWC are RMB751 Million (approximately
USD$109,967,705) and RMB322.23 Million (approximately USD$47,183,613),
respectively.
Silver Dragon Resources owns a 20% equity interest in China,
Sanhe Sino-Top Resources & Technologies, Ltd. ("Sino-Top") and subject to
execution of an Equity Transfer Agreement with the Purchaser, completing a
change of business registration and approval by the PRCs Foreign Exchange
Administration, the Company will receive approximately USD$15,714,692 for the
transfer of its 20% equity stake in Sino-Top.
Forward Looking Statements
This report contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward looking
statements are statements that are not historical facts and are generally, but
not always, identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "aims," "potential," "goal,"
"objective," "prospective," and similar expressions, or that events or
conditions "will," "would," "may," "can," "could" or "should" occur. The Company
cautions investors that any forward-looking statements by the Company are not
guarantees of future results or performance, and that actual results may differ
materially from those in forward looking statements.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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SILVER DRAGON RESOURCES INC.
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Date: June 23, 2017
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/s/
Marc Hazout
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By: Marc Hazout, President & CEO
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