Business
Bunker Hill Mining Announces Upsized and Improved $67 Million Financing Package to Enable Completion of the Mine Restart, Offtake Agreement
Executive Chairman Interview with Kai Hoffmann on Wednesday, May 24 @ 8:00am ET / 5:00am PT Bunker Hill to Host Live Interactive 6ix Summit on Thursday, May 25
About this update from Bunker Hill Mining Corp
[{"type":"text","content":" Executive Chairman Interview with Kai Hoffmann on Wednesday, May 24 @ 8:00am ET / 5:00am PT Bunker Hill to Host Live Interactive 6ix Summit on Thursday, May 25 @ 11:30am ET / 8:30am PT HIGHLIGHTS $67 million term sheet executed, increasing Sprott Streaming commitment to the mine restart to $96 million $46 million Stream: previously proposed $37 million Stream increased by $9 million with no change to economic terms, resulting in a materially lower cost of capital for Bunker Hill shareholders Closing expected in June 2023, enabling full-scale recommencement of project activities $21 million new debt facility: available for draw at the Company’s election for two years Series 1 and Series 2 Convertible Debenture maturities ($21 million total) extended to March 31, 2026 Royalty Convertible Debenture to convert to royalty upon closing of the Stream, as previously planned Subsidiary of Teck Resources Limited (“Teck”) exercises option for minimum 5-year, 100% offtake of Bunker Hill’s zinc and lead concentrates at its smelter in Trail, BC, ensuring a long-term, sustainable revenue source Remobilization of key project partners and recommencement of long-lead procurement in June 2023 First concentrate production targeted by Q4 2024, with multiple acceleration opportunities identified TSX-V application strengthened by materially improved balance sheet and working capital position Executive Chairman Richard Williams will be joining Kai Hoffmann on Soar Financially for an interview to be published at 8:00am ET / 5:00am PT at youtube.com/Soarfinancial CEO Sam Ash and CFO David Wiens to host live interactive 6ix virtual investor event on Thursday, May 25 at 11:30am ET / 8:30am PT. Investors are invited to register at: LINK TORONTO, May 23, 2023 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (CSE: BNKR) (“Bunker Hill” or the “Company) is pleased to announce the execution of a non-binding term sheet outlining an upsized and improved $67 million non-dilutive project finance package with Sprott Private Resource Streaming & Royalty Corp (“Sprott Streaming”). All figures in this news release are in US dollars unless otherwise stated. Sam Ash, CEO, stated “We are excited to announce an upsized and improved project finance package that we expect to backstop the full financing of the Bunker Hill mine restart, materially strengthen our balance ...