05:11 PM EDT, 06/05/2025 (MT Newswires) -- Bunker Hill Mining ( BHLL ) late on Thursday said it closed US$31 million in combined equity financings and debt settlements along with its major capital restructuring, saying this strengthens its balance sheet and signals a new phase in its longstanding partnerships with both Teck Resources (TECK-B.TO) and Sprott Streaming.

The company said it closed a brokered private placement for aggregate cash consideration of approximately US$6.2 million and debt settlement of approximately US$4.4 million (40,726,231 units). A statement noted the brokered private placement included participation by Sprott Streaming and Royalty.

It also closed its concurrent non-brokered private placement with Teck Resources for approximately US$20.5 million.

As part of the equity offer, the company issued an aggregate of 25.22-million units at a price of C$0.15 per unit, of which Teck acquired 195.29-million units and 56.21-million units were sold by a syndicate of agents, of which Sprott Streaming acquired 10 million units.

The company also concurrently closed the previously announced capital restructuring transactions, including the conversion into equity of certain outstanding debt, and the modification of certain existing royalty and stream financing arrangements with Sprott Streaming.

It also announced that Paul Smith has resigned as a director.

"We are pleased to announce the closing of this transformational transaction, which not only strengthens our balance sheet but signals a new phase in our longstanding partnerships with both Teck and Sprott Streaming. Although the transaction took many weeks to finalize, we know the results will benefit all stakeholders and continue the work our team is doing in Kellogg, Idaho, to bring this great asset into production," said Richard Williams, Executive Chairman.

Sam Ash, President and CEO, added: "The Bunker Hill Mine project construction is now 67% complete, with all procurement executed, and ore currently being stockpiled underground. This important transaction paves the way for our exceptional crews and loyal contractors, many of whom have become shareholders as part of this financing transaction, to progress towards the safe and sustainable restart of Bunker Hill operations in H1 2026."

Bunker Hill shares closed down $0.005 to $0.135 on the TSX Venture Exchange.