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Bunker Hill Mining Announces Election to Issue Shares in Satisfaction of Interest Payment Obligations
KELLOGG, Idaho and VANCOUVER, British Columbia, June 27, 2025 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSXV:BNKR | OTCQB:B
About this update from Bunker Hill Mining Corp
[{"type":"text","content":" KELLOGG, Idaho and VANCOUVER, British Columbia, June 27, 2025 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSXV:BNKR | OTCQB:BHLL) announces that it has elected to issue an aggregate of 15,378,473 shares of common stock of the Company (the “Interest Shares”) in full satisfaction of the interest payable as of June 30, 2025 under certain debt instruments (collectively, the “Interest Payments”), including (i) an aggregate of 1,291,667 Interest Shares to certain holders of 5.0% Series 1 secured convertible debentures (the “Series 1 Debentures”) for the aggregate interest of US$103,333.33 owing thereunder, (ii) an aggregate of 4,260,417 Interest Shares to certain holders of 5.0% Series 2 secured convertible debentures (the “Series 2 Debentures”) for the aggregate interest of US$340,833.33 owing thereunder, and (iii) an aggregate of 9,826,389 Interest Shares to the lenders under a 10% loan facility (the “Loan Facility” and, together with the Series 1 Debentures and the Series 2 Debentures, the “Debt Instruments”) for the aggregate interest of US$786,111.11 owing thereunder in connection with advances to the Company. The Series 1 Debentures and Series 2 Debentures mature on March 31, 2028 and March 31, 2029, respectively. The Loan Facility matures on June 30, 2030. In accordance with the terms of the Debt Instruments, the Company will issue the Interest Shares at a price of USD$0.08 (approximately C$0.11) per Interest Share based on 90% of the 10-day volume weighted average trading price of the shares of common stock of the Company on the TSX Venture Exchange (the “TSX-V”) on the trading days beginning on June 13, 2025 and ending on June 26, 2025 (the “Pricing Period”). In connection with the Interest Payments, the Company will issue an aggregate of 15,163,195 Interest Shares to certain managed accounts of Sprott Private Resource Streaming and Royalty Corp. (“Sprott”) and, accordingly, the issuance of such Interest Shares to Sprott will constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Shareholder Approval (“MI 61-101”). The Company intends on relying on exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the Interest Shares to be issued to Sprott, no...