Bunker Hill Mining Receives Third Tranche from Sprott Standby Facility
Bunker Hill Mining (TSX-V: BNKR, OTCQB: BHLL) has received the third tranche of US$5 million from its senior secured credit facility with Sprott Private Resource Streaming and Royalty Corp. This follows previous advances totaling US$10 million, as part of an aggregate facility of up to US$21 million. The funding is designated for development costs at the Bunker Hill Mine in Kellogg, Idaho.
The company continues discussions with strategic financing partners and engages with the incoming administration while advancing its mine restart project. The funding aims to support job creation in American mining and enhance industrial security.
Bunker Hill Mining (TSX-V: BNKR, OTCQB: BHLL) ha ricevuto la terza tranche di 5 milioni di dollari USA dal suo credito senior garantito con Sprott Private Resource Streaming and Royalty Corp. Questo segue i precedenti anticipo per un totale di 10 milioni di dollari USA, nell'ambito di una linea di credito aggregata fino a 21 milioni di dollari USA. I fondi sono destinati ai costi di sviluppo della Bunker Hill Mine a Kellogg, Idaho.
L'azienda continua le discussioni con partner finanziari strategici e collabora con l'amministrazione entrante mentre porta avanti il progetto di rilancio della miniera. Il finanziamento mira a supportare la creazione di posti di lavoro nel settore minerario americano e a migliorare la sicurezza industriale.
Bunker Hill Mining (TSX-V: BNKR, OTCQB: BHLL) ha recibido la tercera tranche de 5 millones de dólares estadounidenses de su crédito senior garantizado con Sprott Private Resource Streaming and Royalty Corp. Esto sigue a los anticipos anteriores que suman 10 millones de dólares estadounidenses, como parte de una instalación agregada de hasta 21 millones de dólares estadounidenses. Los fondos están destinados a los costos de desarrollo en la Bunker Hill Mine en Kellogg, Idaho.
La empresa continúa las discusiones con socios financieros estratégicos y se relaciona con la administración entrante mientras avanza en su proyecto de reinicio de la mina. La financiación tiene como objetivo apoyar la creación de empleo en la minería estadounidense y mejorar la seguridad industrial.
bunker Hill Mining (TSX-V: BNKR, OTCQB: BHLL)는 500만 달러의 세 번째 분할금을 Sprott Private Resource Streaming and Royalty Corp와 함께 하는 고정 담보 신용 시설에서 받았습니다. 이는 총 1000만 달러에 달하는 이전 자금 지원에 이어 이루어진 것으로, 최대 2100만 달러의 종합 시설의 일환입니다. 자금은 아이다호주 켈로그의 Bunker Hill Mine 개발 비용에 지정되어 있습니다.
회사는 전략적 금융 파트너와 논의를 계속하고 있으며, 관리진과 협력하며 광산 재가동 프로젝트를 진행하고 있습니다. 이 자금 지원은 미국의 광업 분야에서 일자리 창출을 지원하고 산업 안전성을 강화하는 것을 목표로 합니다.
Bunker Hill Mining (TSX-V: BNKR, OTCQB: BHLL) a reçu la troisième tranche de 5 millions de dollars américains de sa ligne de crédit senior sécurisée avec Sprott Private Resource Streaming and Royalty Corp. Cela fait suite à des avances précédentes totalisant 10 millions de dollars américains, dans le cadre d'une ligne de crédit globale jusqu'à 21 millions de dollars américains. Les fonds sont destinés aux coûts de développement de la Bunker Hill Mine à Kellogg, Idaho.
L'entreprise continue les discussions avec des partenaires financiers stratégiques et s'engage avec l'administration entrante tout en avançant dans son projet de redémarrage de la mine. Le financement vise à soutenir la création d'emplois dans le secteur minier américain et à renforcer la sécurité industrielle.
Bunker Hill Mining (TSX-V: BNKR, OTCQB: BHLL) hat die dritte Tranche von 5 Millionen US-Dollar aus seiner gesicherten Kreditfazilität mit Sprott Private Resource Streaming and Royalty Corp erhalten. Dies folgt auf frühere Vorschüsse in Höhe von insgesamt 10 Millionen US-Dollar, im Rahmen einer Gesamtfazilität von bis zu 21 Millionen US-Dollar. Die Mittel sind für Entwicklungskosten in der Bunker Hill Mine in Kellogg, Idaho, vorgesehen.
Das Unternehmen führt weiterhin Gespräche mit strategischen Finanzierungspartnern und arbeitet mit der kommenden Verwaltung zusammen, während es sein Wiederanlaufprojekt für die Mine vorantreibt. Die Finanzierung soll die Schaffung von Arbeitsplätzen in der amerikanischen Bergbauindustrie unterstützen und die industrielle Sicherheit verbessern.
- Secured additional US$5 million in funding from Sprott Streaming
- Total funding received to date reaches US$15 million out of US$21 million facility
- Continued support from major institutional investor Sprott Streaming
- Ongoing dependence on external financing for mine development
- Project still requires additional US$6 million to complete funding facility
KELLOGG, Idaho and VANCOUVER, British Columbia, Jan. 20, 2025 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V: BNKR |OTCQB: BHLL) announces it has been advanced the third tranche, in the amount of US
Sam Ash, President and CEO, stated, "As we continue discussions with strategic financing partners and engage with representatives of the incoming administration in the nation’s capital, the operational team at Bunker Hill continues to advance its restart project with the consistent and vital support of Sprott Streaming, working to create new American mining jobs and metal in ways that improve long-term American industrial security."
Figure 1: Caroline Donally, Managing Partner Sprott Streaming, at the site last week accompanied by Mike Eiselein, Process Manager and Tom Francis, General Manager
ABOUT BUNKER HILL MINING CORP.
Bunker Hill Mining Corp. 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: brenda.dayton@bunkerhillmining.com
Cautionary Statements
Neither the TSX Venture Exchange (the “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.
Forward-looking statements in this news release include, but are not limited to, statements regarding: the Company’s objectives, goals or future plans, including the restart and development of the Bunker Hill Mine; the achievement of future short-term, medium-term and long-term operational strategies; further draws by the Company on the Standby Facility, including the Company satisfying any or all of the conditions in connection therewith; the planned use of funds from the Standby Facility; the Company engaging with stakeholders and strategic investors and securing additional financing for its Bunker Hill Mine; and the expected benefits of the potential restart of the Bunker Hill Mine, including, without limitation, job creation and improvement of American industrial security. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: Bunker Hill’s ability to receive sufficient project financing for the restart and development of the Bunker Hill Mine on an acceptable timeline, on acceptable terms, or at all; further drilling and geotechnical work supporting the planned restart and operations at the Bunker Hill Mine; the future price of metals; and the stability of the financial and capital markets. Factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, those risks and uncertainties identified in public filings made by Bunker Hill with the U.S. Securities and Exchange Commission (the “SEC”) and with applicable Canadian securities regulatory authorities, and the following: the Company’s ability to operate as a going concern and its history of losses; the Company’s inability to raise additional capital for project activities, including through equity financings, concentrate offtake financings or otherwise; the fluctuating price of commodities; capital market conditions; restrictions on labor and its effects on international travel and supply chains; failure to identify mineral resources; further geotechnical work not supporting the continued development of the Bunker Hill Mine or the results described herein; failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the Company’s ability to raise sufficient project financing, on acceptable terms or at all, to restart and develop the Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; the Company requiring additional capital expenditures than anticipated, resulting in delays in the expected restart timeline; failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; and capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on such statements or information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all, including as to whether or when the Company will achieve its project finance initiatives, or as to the actual size or terms of those financing initiatives, or whether and when the Company will achieve its operational and construction targets. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Readers are cautioned that the foregoing risks and uncertainties are not exhaustive. Additional information on these and other risk factors that could affect the Company’s operations or financial results are included in the Company’s annual report and may be accessed through the SEDAR+ website (www.sedarplus.ca) or through EDGAR on the SEC website (www.sec.gov).
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c8e0bfb0-d38d-4f64-8825-47485514424e
FAQ
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