Bunker Hill Mining Corp. announced on March 6, 2025, a significant capital restructuring involving Teck Resources Limited, Sprott Streaming and Royalty Company, and Monetary Metals Bond III LLC. This initiative aims to ensure the Bunker Hill Mine project remains on track for commissioning in H2 2025 and full production in H1 2026.
The restructuring includes a non-brokered private placement with Teck for up to US$40 million and a brokered private placement for up to US$20 million, at US$0.105 per unit. Each unit consists of one common share and one-half of a warrant, with warrants exercisable at C$0.25 for 12 months. Teck is expected to become a Control Person, owning over 20% of the shares.
Additionally, Teck will provide an uncommitted revolving standby prepayment facility of up to US$10 million, available until June 30, 2028. The plan also involves converting US$21 million of existing Sprott debt into equity and amending offtake agreements with Teck to apply to life-of-mine production, rather than a 5-year term. These measures are designed to strengthen the balance sheet and de-risk American metal supply chains.
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