Bunker Hill closes $31M equity/debt restructuring; Teck & Sprott become control persons
Bunker Hill Mining Corp.
- Raised ~US$26.7M in combined brokered ($6.2M) and Teck ($20.5M) placements; issued 252M units at C$0.15/unit.
- Teck now owns 23.9% (31.4% diluted) and Sprott 29.6% (39.1% diluted), both become control persons with board nomination rights.
- Converted ~$4.4M debt to equity; amended convertible debentures (rates lowered to 5%) and reduced Debt Facility principal to $15M.
- Teck provides up to $10M standby facility at 13.5% interest; offtake agreements extended to life-of-mine.
- Director Paul Smith resigned; no disagreement reported.