Upsized and Improved $67 Million Financing Package C.BNKR 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.
Bunker Hill Announces Upsized and Improved $67 Million (globenewswire.com)