Bunker Hill Updates Previously Announced C$45 Million “Bought Deal” Private Placement of Units to Provide for Canadian Dollar And U.S. Dollar Denominated Tranches

Rhea-AI Summary

Bunker Hill Mining (OTCQB: BHLL) has revised its previously announced "bought deal" private placement financing to include dual-currency tranches: 150 million units at C$0.12/unit (C$18M gross proceeds) and 225 million units at US$0.08711/unit (US$19.6M gross proceeds). A cornerstone investor is expected to subscribe to the entire USD offering.

The offering is scheduled to close on September 29, 2025, subject to TSXV approval. Underwriters will receive a 6% cash commission (3% for President's List purchasers) and compensation options. Additional finder's fees of 4% may apply for non-U.S. subscribers. The securities will have a 4-month statutory hold period in Canada and a 6-month minimum hold period in the U.S.

Positive

• Total combined offering size of approximately C$45 million provides significant capital injection
• Secured cornerstone investor for entire USD tranche demonstrates strong institutional interest
• Dual-currency structure provides flexibility and broader investor access

Negative

• Significant dilution for existing shareholders due to large unit issuance
• 6% underwriting fees plus additional compensation options increase cost of capital
• Extended hold periods (4-6 months) may limit short-term trading liquidity

• 150,000,000 Units at a price per Unit of C$0.12 for gross proceeds of C$18,000,000
• 225,000,000 Units at a price per Unit of US$0.08711 for gross proceeds of US$19,599,750

KELLOGG, Idaho and VANCOUVER, British Columbia, Sept. 15, 2025 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V: BNKR |OTCQB: BHLL) announces today that it has revised the terms of its previously announced “bought deal” private placement financing to provide for Canadian Dollar and United States Dollar denominated tranches consisting of: (i) 150,000,000 units of the Company (the “Units”) at a price per Unit of C$0.12 for gross proceeds of C$18,000,000 (the “CAD Offering”); and (ii) 225,000,000 Units at a price per Unit of US$0.08711 for gross proceeds of US$19,599,750 (the “USD Offering”, and together with the CAD Offering, the “Offering”).

The Offering is being made through a syndicate of underwriters (the “Underwriters”).

The terms of the Offering are otherwise the same as those described in the Company’s news release dated September 5, 2025, entitled “Bunker Hill Announces C$45 Million “Bought Deal” Private Placement of Units.” It is expected that a cornerstone investor will subscribe for the entirety of the USD Offering.

The Offering is expected to close on September 29, 2025, and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange (“TSXV”).

In consideration of their services, the Company has agreed to pay the Underwriters a cash commission equal to 6.0% of the gross proceeds from the Offering, provided that the cash fee will be 3.0% of the aggregate gross proceeds raised in the Offering from certain purchasers listed on the president’s list (the “President’s List”), and issue that number of non-transferable compensation options (the "Compensation Options") equal to up to 6.0% of the aggregate number of Units sold under the Offering, provided that the number of Compensation Options will be equal to 3.0% of the aggregate number of Units issued by the Company to certain purchasers on the President’s List. In consideration of their services, the Company may pay certain finders (each, a “Finder”) a cash commission equal to 4.0% of the aggregate gross proceeds raised from certain non-United States subscribers introduced by such Finders to the Company in the Offering, and issue that number of Compensation Options as is equal to 4.0% of the aggregate number of Units sold under the Offering to non-United States subscribers introduced by the Finders. Each Compensation Option is exercisable to acquire one share of common stock of the Company at a price of C$0.12 per share for a period of 24 months from the closing date of the Offering.

The Units have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The securities to be issued under the Offering will be subject to statutory hold period of four months and one day in accordance with applicable Canadian securities laws and to a minimum concurrent six-month hold period in accordance with applicable U.S. securities laws. Such securities have not been registered under the U.S. Securities Act or any U.S. state securities laws and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with requirements of an applicable exemption therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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 U.S. 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 Offering, including the expected closing date of the Offering; the receipt of all regulatory and stock exchange approvals, including the approval of the TSXV; the Company’s ability to secure sufficient project financing to complete the construction of the Bunker Hill Mine and move it to commercial production in a manner that maximizes shareholder value.

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 construction of the Bunker Hill Mine on an acceptable timeline, on acceptable terms, or at all; our ability to service our existing debt and meet the payment obligations thereunder; 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: Bunker Hill’s ability to use the net proceeds of the Offering in a manner that will increase the value of stockholders’ investments; the dilution of current stockholders as a result of the consummation of the Offering; Bunker Hill’s ability to operate as a going concern and its history of losses; Bunker Hill’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).

FAQ

What is the total size of Bunker Hill Mining's (BHLL) September 2025 private placement?

The total offering consists of C$18 million in CAD units and US$19.6 million in USD units, for a combined total of approximately C$45 million.

What is the price per unit for Bunker Hill's private placement?

The offering has two pricing tiers: C$0.12 per unit for the Canadian dollar tranche and US$0.08711 per unit for the U.S. dollar tranche.

When will Bunker Hill's private placement close?

The offering is expected to close on September 29, 2025, subject to TSXV approval and other closing conditions.

What are the lock-up periods for Bunker Hill's private placement securities?

The securities will have a 4-month statutory hold period in Canada and a minimum 6-month hold period in the United States.

What fees are associated with Bunker Hill's private placement?

Underwriters will receive a 6% cash commission (reduced to 3% for President's List purchasers) and compensation options. Additional 4% finder's fees may apply for non-U.S. subscribers.