Bunker Hill Mining Corp. Advances with Share Issuance
Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V: BNKR; OTCQB: BHLL) has made a notable decision to issue 506,775 shares of common stock at a deemed price of C$0.16 per share. This action is intended to cover a financing cooperation fee owed to a creditor, totaling US$60,000, for the three-month period from April 1 to June 30, 2024. This strategic move reflects Bunker Hill's efforts to conserve cash while preparing for the possible restart and ongoing development of the Bunker Hill Mine.
Details of the Share Issuance
The financing cooperation fee is part of an agreement established on September 27, 2022, between Bunker Hill and its creditor. Under this agreement, the creditor provides collateral security that allows the Company to obtain necessary surety bonds related to the Bunker Hill Mine.
Ensuring Financial Flexibility
To maintain financial stability and maximize flexibility in funding the mine's restart and development, the Company has chosen to issue shares rather than pay cash for the cooperation fee. This approach enables Bunker Hill to navigate the challenges of the mining industry while effectively managing its financial resources.
Regulatory Approvals and Future Actions
This transaction requires several regulatory approvals, with the most crucial being the endorsement from the TSX Venture Exchange (the “TSX-V”). After issuance, these shares will be subject to a hold period of four months and one day, in accordance with Canadian securities regulations. Notably, these shares have not been and will not be registered under the United States Securities Act of 1933, which limits their sale or offer within the United States without appropriate compliance.
About Bunker Hill Mining Corp.
Bunker Hill Mining Corp. is guided by a dedicated team based in Idaho, focused on a sustainable strategy for revitalizing and developing the Bunker Hill Mine. The Company aims to consolidate its mining assets into a strong portfolio, primarily concentrated in North America. For more detailed information about Bunker Hill Mining, you can visit its official website.
Investor Relations Contact Information
Bunker Hill's commitment to transparency is underscored by its investor relations team. For any inquiries or further information, Brenda Dayton, the Vice President of Investor Relations, is available via phone or email to provide additional insights regarding the Company's strategies and developments.
Frequently Asked Questions
What is the purpose of issuing shares instead of cash?
The issuance of shares allows Bunker Hill to conserve cash for ongoing and future operational needs while meeting its financing cooperation obligations.
Who is the creditor that the Company is issuing shares to?
The specific creditor involved in this share issuance is identified in the financing cooperation agreement signed with Bunker Hill.
What are the requirements for the regulatory approvals?
The transaction primarily requires approval from the TSX Venture Exchange, which oversees compliance for the share issuance.
How long will the shares be on hold after issuance?
Once issued, the shares will be subject to a hold period of four months and one day, as stipulated by Canadian securities regulations.
Where can I find more information about Bunker Hill Mining Corp.?
Additional information is accessible on Bunker Hill Mining's official website, as well as through SEDAR+ and EDGAR databases for regulatory disclosures.
