Bunker Hill Mining Announces Share Issuance for Convertible Debenture Interest
KELLOGG, Idaho and VANCOUVER, British Columbia – Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSXV: BNKR | OTCQB: BHLL) has made a significant decision to issue up to 187,500 shares of common stock, also referred to as “Common Shares,” to certain holders of its 7.5% convertible debentures, known as the “Series 1 Convertible Debentures.” This issuance aims to satisfy the interest obligations that have accrued under these debentures, totaling US$18,750.
Details of the Share Issuance
The Company plans to issue the Interest Shares at a deemed price of US$0.10 each, determined by the 10-day volume-weighted average trading price on the TSX Venture Exchange (the “TSX-V”) during a specified Pricing Period occurring from March 10 to March 21. The net result of this transaction will serve to meet the financial commitments associated with the convertible debentures due to mature on March 31, 2028.
Regulatory Approval Process
This issuance is still pending confirmation from relevant regulatory bodies and stock exchange approvals. To comply with the application of Canadian securities laws, the Interest Shares will be subject to a hold period of four months and one day following their issuance. It’s important to note that these shares will not be registered under the United States Securities Act of 1933, nor will they be available for sale in the U.S. until compliance with legal requisites is met.
About Bunker Hill Mining Corp.
Bunker Hill Mining Corp. is a prominent American mineral exploration and development entity focused on revitalizing a historically significant zinc, silver, and lead deposit located in northern Idaho's Coeur d’Alene mining district. With an innovative approach to mining, the Company is dedicated to integrating sustainable development strategies alongside advanced exploration techniques to enhance the potential of this mineral-rich area.
Future Outlook
The move to issue shares instead of cash underlines Bunker Hill's strategic intent to maintain a robust financial footing while facilitating the advancement of its mining endeavors. This approach also highlights the Company's commitment to its investors by addressing interest obligations directly through equity.
Contact Information for Inquiries
For any further inquiries about this share issuance or other related matters, 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 is the purpose of issuing shares for interest payment?
The shares are being issued to satisfy interest obligations on the Series 1 Convertible Debentures, allowing the company to manage cash flow effectively while meeting financial commitments.
What are Interest Shares?
Interest Shares refer to the common stock being issued by Bunker Hill Mining Corp. to holders of convertible debentures as a method of payment for accrued interest.
What must occur before the shares are issued?
The issuance of the shares must receive all necessary regulatory and stock exchange approvals before it can take place.
How does this affect investors?
This strategy can potentially benefit investors by maintaining the company's liquidity while ensuring obligations are met without immediate cash outflow.
What does the future hold for Bunker Hill Mining?
The company aims to leverage its historic mining assets and integrate modern techniques to enhance exploration and operational efficiency, fostering growth and profitability.
