Bunker Hill Mining Corp Secures DSU Settlement Agreement
KELLOGG, Idaho and VANCOUVER, British Columbia — Bunker Hill Mining Corp (TSXV: BNKR; OTCQB: BHLL) has recently entered into a significant agreement involving the issuance of shares to settle deferred share units (DSUs) for a former director. This settlement encompasses a total of 851,134 vested DSUs, marking the company's commitment to its stakeholders and the future of the business.
Details of the Settlement Agreement
As part of the agreement, Bunker Hill will issue 615,384 shares of its common stock at a price of C$0.195 per share. This is particularly noteworthy, as it aligns with the closing share price on the TSX Venture Exchange. The total cash payout for the DSUs is C$165,971.13, with a portion being addressed through the issuance of shares, while the remaining balance will be provided in cash. By opting for shares over cash, the company aims to maintain liquidity for ongoing operational advancements.
Reasons Behind the Share Issuance
The strategic decision to issue shares for part of the DSU settlement is a clear reflection of Bunker Hill's intention to preserve cash flow. This approach supports the potential resurgence and development of the Bunker Hill Mine, which is regarded as a key asset in the company's portfolio. The balance of C$45,971.13 will be settled in cash, ensuring that the commitments to the director are met while allowing Bunker Hill to channel funds into revitalizing its mining operations.
Future Implications for Bunker Hill
The transaction is currently awaiting regulatory approval, particularly from the TSX Venture Exchange, which is an essential step for Bunker Hill. Once the shares are issued, they will be held under a four-month restriction period. This approach complies with Canadian securities laws and U.S. regulations, emphasizing the company’s dedication to maintaining good standing and following industry standards.
Commitment to Sustainable Operations
Bunker Hill is committed to leveraging its historic mining assets to drive sustainable practices. The company aims to unlock the potential of the mineral-rich region through innovative mining techniques while maximizing shareholder value. The ongoing development of the Bunker Hill Mine represents a fundamental strategy in achieving these objectives, reflecting a focus on both heritage and modernization in mining initiatives.
About Bunker Hill Mining Corp
Bunker Hill Mining Corp is engaged in mineral exploration and development, focusing on the revitalization of its iconic zinc, lead, and silver mining operations in northern Idaho. Positioned within the historic Coeur d'Alene mining district, the company is committed to implementing modern exploration strategies and sustainable development practices, which are integral to unlocking the mine's potential.
Leadership and Contact Information
Under the leadership of President and CEO Sam Ash, Bunker Hill continues to grow its vision for revitalizing its mining operations. For further information, potential investors and interested parties can reach out to:
Brenda Dayton
Vice President, Investor Relations
T: 604.417.7952
E: brenda.dayton@bunkerhillmining.com
Frequently Asked Questions
What is the nature of the DSU settlement announced by Bunker Hill?
The settlement involves Bunker Hill agreeing to issue shares as part of a payment to a former director for deferred share units previously granted.
How many shares will Bunker Hill issue for this settlement?
Bunker Hill will issue 615,384 shares of common stock at a deemed issue price of C$0.195 per share.
What is the reason for opting to issue shares instead of cash?
Issuing shares allows Bunker Hill to preserve cash resources, providing necessary funds for the development of the Bunker Hill Mine while fulfilling its obligations.
Who can I contact for more information about Bunker Hill?
For inquiries, individuals can contact Brenda Dayton, Vice President of Investor Relations, via phone or email.
What are the key goals for Bunker Hill moving forward?
Bunker Hill aims to successfully restart and develop the Bunker Hill Mine while maximizing shareholder value through sustainable practices and modern exploration methods.
