07:16 AM EDT, 06/25/2024 (MT Newswires) -- Bunker Hill Mining Corp. ( BHLL ) overnight Monday announced that it has elected to issue an aggregate of 4,653,409 shares of common stock of the company to certain holders of 7.5% convertible debentures and 10.5% convertible debentures in full satisfaction of the interest payable thereunder as of June 30, 2024 in the aggregate amount of US$511,875.00. The convertible debentures mature on March 31, 2026.

In accordance with the terms of the convertible debentures, the company will issue the Interest Shares at a price of US$0.11 each based on 90% of the 10-day volume weighted average trading price of the shares of common stock of the company on the TSX Venture Exchange on the trading days beginning on June 10, 2024 and ending on June 21, 2024.

In connection with the Interest Payment, the company will issue an aggregate of 4,481,061 Interest Shares to certain managed accounts of Sprott Private Resource Streaming and Royalty Corp.

The issuance of the Interest Shares is subject to the terms and conditions of the convertible debentures as well as the receipt of all regulatory approvals, including, without limitation, the approval of the TSX-V. Once issued, the Interest Shares will be subject to a four-month and one-day hold period in accordance with applicable Canadian securities laws.