M&A - Bunker Hill Mining Corp.

Form Type: 8-K

Filing Date: 2025-03-06

Corporate Action: Acquisition

Type: New

Accession Number: 000149315225009327

Filing Summary: On March 5, 2025, Bunker Hill Mining Corp. entered into the Teck Subscription Agreement with Teck Resources Limited, wherein Teck will purchase up to 380,952,381 equity units at a price of US$0.1051 per Unit, generating gross proceeds of up to US$40 million. Each unit comprises one common share and one-half a warrant, with the warrant exercisable at a price of C$0.25 per share for one year. This financing aims to fund efforts to restart the Bunker Hill Mine and general working capital, contingent on further negotiations and stockholder approvals. Teck, which will own over 20% of Bunker Hill’s Common Shares post-transaction, requires stockholder consent as it will become a Control Person. An affiliate of Teck will provide a standby prepayment facility of up to US$10 million. Additionally, the company outlines a plan to restructure its debt financing with Sprott Streaming and other creditors, involving amendments to previous debt terms and potential adjustments in capital structure. The company anticipates increasing its authorized shares from 1,510,000,000 to 2,510,000,000 and expects various transactions to close by April 1, 2025, with comprehensive stipulations included for related parties. The document also discusses the necessity of obtaining consent from over 50% of disinterested stockholders while outlining other planned financing actions and amendments, including adjustments to offtake agreements and royalty modifications.

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