08:30 AM EDT, 09/06/2024 (MT Newswires) -- Bunker Hill Mining ( BHLL ) overnight Thursday said it will issue 506,775 shares to cover fees owed to a creditor.

The company said the shares have a deemed price of $0.16 and will be used to repay US$60,000 owed as a financing cooperation fee.

The company said the unnamed creditor provided "certain collateral security" that allowed Bunker Hill to obtain surety bonds for its Bunker Hill mine project in Idaho. The company said it is issuing shares to satisfy the debt so it can preserve cash as it readies to restart production at the historic mine.

Bunker Hill shares closed unchanged at $0.16 Thursday on the TSX Venture Exchange.