Bunker Announces Second Increase to Previously Announced Brokered Private Placement to C$20.4 Million
2020年8月11日 - 2:15AM
Bunker Hill Mining Corporation (the
“
Company”) (CSE: BNKR) is pleased to announce
that, due to strong demand, the Company has further increased the
size of its previously announced brokered best efforts equity
private placement to approximately C$20,400,000. A total of
C$1,220,000 of the units will be issued to settle outstanding
indebtedness of the Company. The 15% over-allotment option that was
previously associated with the offering has been removed from the
offering.
The offering led by a syndicate of agents (the
“Agents”) is a best efforts brokered private placement of up to
58,285,714 units of the Company (“Units”) at
C$0.35 per Unit (the “Offering”). Each Unit
will consist of one common share of the Company (a “Common
Share”) and one Common Share purchase warrant (a
“Warrant”). Each whole Warrant entitles the holder
to acquire one Common Share at a price of C$0.50 per Common Share
for a period of three years.
The net proceeds from the Offering shall be
primarily used for the exploration of the high grade silver
potential of the Bunker Hill Mine, lease and other payments
required to keep the Company’s option interest in Bunker Hill Mine
in good standing, and for general corporate and working capital
purposes.
The Agents will be paid a cash commission (the
“Agents’ Fee”) equal to 6.0% of the gross proceeds
from the Offering. In addition, the Agents will be issued
warrants of the Company exercisable for a period of 36 months
following the closing of the Offering to acquire in aggregate that
number of Units which is equal to 6% of the number of Units sold
under the Offering (including any Units sold under the
over-allotment option) at an exercise price equal to C$0.35 (the
“Broker Warrants”). The Agents shall receive
a 2% Agents’ Fee and 6% Broker Warrants in respect of specified
gross proceeds from the President’s List.
The first tranche of the Offering is expected to
close on or about August 14, 2020 and will be subject to receipt of
all necessary regulatory approvals. The Units and securities
underlying them will be subject to a six month hold period in
accordance with applicable securities laws.
This news release does not constitute an offer
of securities for sale in the United States or to or for the
account or benefit of U.S. persons (as defined under the United
States Securities Act or 1933, as amended (the “U.S. Securities
Act”)). The securities being offered have not been, nor will they
be, registered under the U.S. Securities Act, and such securities
may not be offered or sold within the United States or to or for
the account or benefit of U.S. persons absent U.S. registration or
an applicable exemption from U.S. registration requirements.
About Bunker Hill Mining
Corp.
Bunker Hill Mining Corp. has an option to
acquire 100% of all saleable assets at the Bunker
Hill Mine. Information about the Company is available on its
website, www.bunkerhillmining.com, or within the SEDAR and EDGAR
databases.
For additional information contact:
Sam Ash, President and Chief Executive Officer+1
208 786 6999sa@bunkerhillmining.com
Cautionary Statements
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 of 1933, as amended, and
Section 21E of the 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.
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”, or “plan”. Since
forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are
based on information currently available to the Company, the
Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release
includes, but is not limited to, the anticipated size of the
Offering, the Offering price, the anticipated closing date and the
completion of the Offering, the anticipated use of the net proceeds
from the Offering, the receipt of all necessary approvals, and the
Company’s intentions regarding its objectives, goals or future
plans and statements. Factors that could cause actual results to
differ materially from such forward-looking information include,
but are not limited to: an inability to complete the Offering on
the terms or on the timeline as announced or at all; the ability to
predict and counteract the effects of COVID-19 on the business of
the Company, including but not limited to the effects of COVID-19
on the price of commodities, capital market conditions, restriction
on labour and international travel and supply chains; failure
to identify mineral resources; failure to convert estimated mineral
resources to reserves; the inability to complete a feasibility
study which recommends a production decision; the preliminary
nature of metallurgical test results; 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; capital, operating and reclamation costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry; and those risks set
out in the Company’s public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
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. 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.
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