Bunker Hill Announces Closing of $31 Million Combined Equity Financings and Debt Settlements Along with its Major Capital Restructuring

Core Viewpoint - Bunker Hill Mining Corp. has successfully closed a brokered private placement and a concurrent non-brokered private placement, raising approximately US$26.7 million in total, which will support the construction and ramp-up of the Bunker Hill Zinc-Silver-Lead Mine project in Idaho [1][6]. Equity Offerings - The brokered private placement raised approximately US$6.2 million and included the settlement of approximately US$4.4 million in debt, totaling 40,726,231 units issued [1]. - The non-brokered private placement with Teck Resources Limited raised approximately US$20.5 million, resulting in the issuance of 252,215,751 units at a price of C$0.15 per unit [1][5]. - Teck acquired 195,294,655 units, while Sprott Streaming acquired 10,000,000 units through the brokered placement [1][5]. Capital Restructuring - The company completed capital restructuring transactions, including the conversion of certain outstanding debt into equity and modifications to existing royalty and stream financing arrangements with Sprott Streaming [2][12]. - The restructuring included a reduction of the outstanding principal amount under the Debt Facility from US$21 million to US$15 million and amendments to existing royalty interests [12][13]. Project Development - The construction of the Bunker Hill Mine project is currently 67% complete, with ore being stockpiled underground, and the company aims for a safe and sustainable restart of operations in the first half of 2026 [4]. - The net proceeds from the equity offerings will be utilized to support the construction, start-up, and ramp-up of the Bunker Hill Mine [6]. Shareholder Dynamics - Following the private placements, Teck now holds approximately 23.9% of the issued and outstanding common shares on a non-diluted basis and is considered a "Control Person" of the company [8][19]. - Sprott Streaming now owns approximately 29.6% of the issued and outstanding common shares, also qualifying as a "Control Person" [19]. Investor Rights Agreements - The company has entered into investor rights agreements with both Teck and Sprott Streaming, granting them rights to maintain their percentage interest in future financings and appoint a nominee to the board of directors [10][20]. Related Party Transactions - The transactions with Sprott Streaming and certain directors of the company are classified as related party transactions, with exemptions from formal valuation and minority shareholder approval requirements due to the company's financial hardship [22]. Articles of Incorporation - The company received approval from a majority of its stockholders to amend its articles of incorporation, increasing the total number of authorized shares from 1,510,000,000 to 2,510,000,000 [23]. Company Overview - Bunker Hill Mining Corp. is focused on revitalizing its historic mining asset in Idaho's Coeur d'Alene mining district, aiming to maximize shareholder value while responsibly harnessing the mineral wealth in the region [24].