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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
KELLOGG, Idaho and VANCOUVER, British Columbia, May 22, 2025 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V: BNKR |OTCQB: BHLL) is pleased to announce that the Company and Teck Resources Limited (“Teck”) have agreed to amend and restate the unsecured promissory note previously provided by Teck to increase the maximum aggregate principal amount thereunder from US$3.4 million to US$4.4 million (as amended and restated, the “Promissory Note”). The Promissory Note ensures sufficient short-term funding until the previously announced brokered and non-brokered private placements close, and bears interest at a rate of 12% per annum, with such interest being capitalized and added to the principal amount outstanding monthly under the Promissory Note. The Promissory Note is available in multiple advances, at the discretion of Teck, and is payable by the Company in cash on demand from Teck. No bonus securities of the Company will be issued to Teck in connection with the Promissory Note, nor is the Promissory Note convertible into securities of the Company.
ABOUT BUNKER HILL MINING CORP.
Bunker Hill is an American mineral exploration and development company focused on revitalizing our historic mining asset: the renowned zinc, lead, and silver deposit in northern Idaho’s prolific Coeur d’Alene mining district. This strategic initiative aims to breathe new life into a once-productive mine, leveraging modern exploration techniques and sustainable development practices to unlock the potential of this mineral-rich region. Bunker Hill Mining Corp. aims to maximize shareholder value while responsibly harnessing the mineral wealth in the Silver Valley mining district by concentrating our efforts on this single, high-potential asset. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR+ and EDGAR databases.
On behalf of Bunker Hill Mining Corp.
Sam Ash
President and Chief Executive Officer
For additional information, please contact:
Brenda Dayton
Vice President, Investor Relations
T: 604.417.7952
E: [email protected]
Cautionary Statements
Neither the TSX Venture Exchange (“TSX-V”) nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations (collectively, “forward-looking statements”). Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “plan” or variations of such words and phrases.
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