Bunker Hill Mining Corp. announced on March 25, 2025, significant enhancements to its capital restructuring and equity financing initiative, aiming to keep the Bunker Hill Mine on track for commissioning in H2 2025 and nameplate production in H1 2026. The brokered private placement is set to close its order book on March 27, 2025, targeting minimum gross proceeds of US$10 million and up to US$15 million.
Teck Resources has increased its commitment, agreeing to contribute US$2 for every US$1 raised through the brokered offering, with a minimum lead order of US$6.6 million and total gross proceeds up to US$30 million. To ensure short-term liquidity, Teck also provided an unsecured promissory note for up to US$3.4 million at 12% interest.
Debt restructuring includes reducing Sprott Streaming's Series 3 convertible debentures from US$10 million to US$4 million, with an additional issuance of up to 57,142,857 common shares to Sprott for debt conversion. The interest rate on the Silver Loan from Monetary Metals was reduced from 15% to 13.5%, and its availability extended to June 30, 2025. The company also plans to settle up to US$4 million in outstanding receivables for equity.
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