09:02 AM EST, 12/31/2024 (MT Newswires) -- Bunker Hill Mining ( BHLL ) on Tuesday said it closed the fifth tranche of a previously announced US$1.5 million silver loan with Monetary Metals & Co.

"While most of the market has been taking its holiday, Bunker Hill has completed another tranche of finance with its partner Monetary Metals, enabling critical project and resource upgrade activity to advance concurrently with our ongoing corporate financing discussions," said Bunker Hill Chief Executive Sam Ash.

In connection with the fifth tranche, the company said it will issue 100,397 warrants to Monetary Metals. Each bonus warrant will entitle the holder to buy one share of common stock of the company at $0.15.

The company added that the bonus warrants will be exercisable until Aug. 8, 2027, subject to acceleration in accordance with the policies of the TSX Venture Exchange and will be subject to a hold period of four months and one day from the issuance of the bonus warrants in accordance with applicable securities laws.

Shares of the company closed down $0.015, or 9%, at $0.15 on Monday on the TSX Venture Exchange.