Bunker Hill Mining Corp. Announces Share Issuance for DSU Settlement
KELLOGG, Idaho and VANCOUVER, British Columbia — Bunker Hill Mining Corp. (TSX-V: BNKR; Other OTC: BHLL) has entered into an agreement with a former director of the Company for the settlement of 851,134 vested deferred share units (DSUs). This significant move, designed to assist in cash flow management, reflects Bunker Hill’s commitment to enhancing operational capacity and financial health.
Details of the Settlement Agreement
Under the terms of the Settlement Agreement, Bunker Hill will issue 615,384 common stock shares to the Recipient at a price of C$0.195 per share. This valuation corresponds with the recent closing price on the TSX Venture Exchange. The settlement encompasses a total cash payment of C$165,971.13 to the Recipient, of which C$119,999.99 will be compensated through the issuance of shares, while the remaining balance of C$45,971.13 will be paid in cash. This strategic issuance will allow Bunker Hill to retain cash for the anticipated restart and further development of the Bunker Hill Mine.
Future Prospects of Bunker Hill Mine
The transaction is contingent upon receiving necessary regulatory approvals, particularly from the TSX Venture Exchange. Following the share issuance, there will be a holding period of four months and one day in adherence to both Canadian and applicable U.S. securities laws. This prudent financial strategy aligns with Bunker Hill’s goal of sustainable exploration and development in one of North America's notable mining districts.
About Bunker Hill Mining Corp.
Bunker Hill Mining Corp. is dedicated to revitalizing a significant mining asset in northern Idaho's Coeur d’Alene mining district. This historic site, rich in zinc, lead, and silver, is the focus of a groundbreaking initiative designed to harness advanced exploration techniques and environmentally sustainable practices. By concentrating on this unique asset, Bunker Hill aims to maximize shareholder value through responsible and innovative extraction methods, ensuring a positive impact on the Silver Valley community.
Leadership Team and Contact Information
Under the capable leadership of President and CEO Sam Ash, Bunker Hill Mining Corp. is driven to enhance its market standing and operational efficacy. For more insightful information regarding the Company’s strategies and developments, stakeholders are encouraged to connect with Brenda Dayton, Vice President of Investor Relations, at 604.417.7952 or via email.
Frequently Asked Questions
What led to the agreement for the issuance of shares by Bunker Hill?
The agreement stems from the need to settle deferred share units issued to a former director, allowing the Company to manage cash flow while fulfilling obligations.
How many shares will Bunker Hill issue as part of the settlement?
Bunker Hill will issue 615,384 common shares as part of the total compensation for the deferred share units settled.
What is the purpose of issuing shares instead of cash?
This approach allows Bunker Hill to conserve cash for reinvestment into the development of the Bunker Hill Mine, aiding in its long-term growth strategies.
What regulatory approvals are required for this transaction?
The share issuance is subject to regulatory approvals from the TSX Venture Exchange to comply with securities regulations.
How does this decision align with Bunker Hill's overall strategy?
Issuing shares instead of cash aligns with Bunker Hill's strategic focus on revitalizing its mining operations while maintaining financial flexibility in the market.
