Bunker Hill Mining Corp Moves Forward with Innovative Share Issuance
Bunker Hill Mining Corp's Recent Developments
Bunker Hill Mining Corp, also known as Bunker Hill or the Company, has made a significant move by opting to issue a total of 2,236,111 shares of its common stock. This decision was made to satisfy interest payment obligations totaling US$268,333.34. The issuance of these shares follows specific conditions outlined in the convertible debentures held by certain stakeholders.
Understanding the Share Issuance
These Interest Shares will be issued at a price of USD$0.12, approximately C$0.17 per share. This pricing is based on a calculation that includes the trading history of the Company’s stock over a specific period. The shares are part of a strategy to manage the Company's financial obligations while continuing to develop its assets in the mining sector.
Key Stakeholders and Related Transactions
As part of these Interest Payments, a large portion of the Interest Shares, specifically 2,129,630 shares, will be allocated to managed accounts within Sprott Private Resource Streaming and Royalty Corp. This venture qualifies as a related party transaction under existing regulations, and the Company plans to utilize exemptions regarding shareholder approvals due to the size of the transaction relative to its market capitalization.
Approval Process and Compliance
The issuance of the Interest Shares requires adherence to several regulatory conditions, including obtaining necessary approvals from the TSX Venture Exchange. Once approved, there will be a hold period of four months and one day during which these shares cannot be traded, in compliance with Canadian securities laws.
About Bunker Hill Mining Corp.
Bunker Hill Mining Corp, headquartered in Idaho, is focused on the sustainable redevelopment of the Bunker Hill Mine. This initiative represents the Company's commitment to creating a robust portfolio of mining operations within North America. The endeavor not only aims for profitability but also encompasses responsible mining practices that benefit local communities and stakeholders.
Future Outlook
The Company’s direction involves significant plans for restarting mining activities, which hinge on securing necessary funding and navigating regulatory landscapes effectively. Bunker Hill’s goal is to optimize its resource management and ensure a competitive position in the mining market.
Meet the Leadership Team
At the helm of Bunker Hill is Sam Ash, who serves as the President, Chief Executive Officer, and Director. Under his leadership, the Company is poised for strategic growth, with an emphasis on operational efficiency and sustainability.
For More Information
If you wish to get in touch for additional inquiries or investment details, please reach out to Brenda Dayton, Vice President of Investor Relations, at 604.417.7952 or via email at brenda.dayton@bunkerhillmining.com.
Frequently Asked Questions
What recent action has Bunker Hill Mining Corp taken regarding shares?
The Company announced the issuance of 2,236,111 shares to meet its interest payment obligations.
How much interest is being satisfied with the share issuance?
The share issuance addresses interest payments totaling US$268,333.34.
Who receives the majority of the issued shares?
Majority of the shares, about 2,129,630, will be issued to Sprott Private Resource Streaming and Royalty Corp.
What is the price per issued share?
Each Interest Share is priced at USD$0.12, approximately C$0.17.
What is Bunker Hill’s focus moving forward?
The Company aims to sustainably restart and develop the Bunker Hill Mine while building a valuable mining portfolio in North America.
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