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Bunker Hill Announces Increase to the Previously Announced Promissory Note to Ensure Sufficient Liquidity as it Continues Toward Closing its Private Placements and Major Capital Restructuring
Globenewswireยท 2025-05-22 22:47
Core Viewpoint - Bunker Hill Mining Corp. has amended its unsecured promissory note with Teck Resources Limited, increasing the principal amount from US$3.4 million to US$4.4 million to secure short-term funding until private placements close [1] Company Overview - Bunker Hill Mining Corp. is focused on revitalizing a historic mining asset in northern Idaho's Coeur d'Alene mining district, specifically targeting zinc, lead, and silver deposits [2] - The company aims to maximize shareholder value while responsibly developing its mineral-rich asset using modern exploration techniques and sustainable practices [2] Financial Arrangement - The amended promissory note bears an interest rate of 12% per annum, with interest capitalized and added to the principal monthly [1] - The note is available in multiple advances at Teck's discretion and is payable in cash on demand [1] - No bonus securities will be issued to Teck in connection with the promissory note, nor is it convertible into the company's securities [1]