Bunker Hill Mining Corporation is pleased to announce that it has reached an agreement with Hummingbird Resources PLC (“Hummingbird”) to settle its US$2,100,000 outstanding convertible loan (see Company’s news releases of June 19, 2018, August 9, 2018 and June 24, 2019). Hummingbird agreed to convert the loan into common shares of the Company at a price of $0.50 per Common Share.
Sam Ash, CEO of Bunker Hill, said: “We are delighted to settle this debt with one of our longstanding supportive investment partners, Hummingbird, in a manner that reaffirms their confidence in our value-creation strategy. Both parties agree that Bunker Hill’s cash reserves are best utilized to progress the ongoing high grade silver exploration program. Drilling is advancing on schedule and we look forward to providing first drill results in a few weeks’ time”.
The parties have agreed that, upon the completion of the debt settlement, the original loan agreement will terminate. It is expected that, upon the completion of the debt settlement, subject to receipt of the requisite approvals, the Company will issue 5,572,980 Common Shares to the Hummingbird. Any securities issued in connection with the debt settlement will be issued in reliance on certain prospectus and registration exemptions under applicable securities legislation and will be subject to customary hold periods under thereunder.
About Bunker Hill Mining Corp.
Bunker Hill Mining Corp. has an option to acquire 100% of the Bunker Hill Mine. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.
For additional information contact:
Sam Ash, President and Chief Executive Officer
+1 208 786 6999