- Bunker Hill Mining Corp. (BNKR) has announced a private placement of special warrants for gross proceeds of up to C$9 million
- Each special warrant shall be exercisable into one unit, and each unit will consist of one common share and one common share purchase warrant
- The private placement is expected to close on or about March 7, 2023
- The company also announces the termination of its previously-announced marketed public offering of common shares
- Bunker Hill Mining explores and develops mineral properties in North America
- Bunker Hill Mining Corp. (BNKR) opened trading at C$0.145
Bunker Hill Mining Corp. (BNKR) has announced a private placement of special warrants for gross proceeds of up to C$9 million.
Each special warrant shall be exercisable into one unit on either the third business day after the company files its registration statement with the United States Securities and Exchange Commission or six months following the closing date of the offering.
Each unit will consist of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at $0.15 per warrant share for a period of 36 months following the closing date of the offering.
The issue price of the special warrant has yet to be announced.
The special warrants and securities issued will be subject to a six-month hold period, which may be shortened to four months in Canada should the Registration Statement be declared effective by the SEC.
The offering will be available to accredited investors in Canada and the U.S.
The company has signed an agreement with Echelon Wealth Partners Inc., as co-lead agent and co-bookrunner, on behalf of Roth Capital Partners, LLC, as co-lead agent and co-bookrunner, and Laurentian Bank Securities Inc.
The agents have been granted an over-allotment option allowing them to sell up to an additional 15% of the special warrants sold under the private placement.
The agents will receive a cash commission and compensation options.
The private placement is expected to close on or about March 7, 2023.
Net proceeds will be used for capital expenditures relating to the Bunker Hill Mine, as well as for working capital and general corporate purposes.
Termination of marketed public offering
The company also announces the termination of its previously-announced marketed public offering of common shares. No common shares were sold by the company in connection with the offering.
Bunker Hill Mining explores and develops mineral properties in North America. The company is focused on developing the Bunker Hill Mine in northern Idaho.
Bunker Hill Mining Corp. (BNKR) opened trading at C$0.145.