Bunker Hill closes $9.66M first tranche of financing

Dec 6, 2017

2017-12-06 12:52 ET – News Release

Mr. Bruce Reid reports

BUNKER HILL MINING CORP. ANNOUNCES CLOSING OF FIRST TRANCHE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT

Bunker Hill Mining Corp. has closed the first tranche of its previously announced private placement led by Red Cloud Klondike Strike Inc. and including Haywood Securities Inc. to raise gross proceeds of $9,667,900.

Pursuant to the offering, the company issued 7,734,320 units at a price of $1.25 per unit. Each unit comprises one common share of the company and one-half of one transferable common share purchase warrant, each warrant entitling the holder thereof to acquire one common share at a price of $2 until Dec. 5, 2020.

In connection with the offering, the agents received a cash fee in an amount equal to 8 per cent of the gross proceeds of the offering (excluding proceeds from certain president’s list subscribers) and were granted common share purchase warrants entitling them to subscribe for that number of common shares equal to 4 per cent of the aggregate number of units sold in the offering (excluding units sold to certain president’s list subscribers). Each broker warrant is exercisable at a price equal to $2 until Dec. 5, 2020.

The proceeds from the offering are being used primarily for lease payments, acquisition payments, exploration and development at the Bunker Hill mine, and for general corporate and working capital purposes.

All of the units, including all underlying securities thereof, and the broker warrants issued in connection with the offering are subject to a hold period under applicable securities law until June 5, 2018. Securities of the company sold in the offering constitute restricted securities under U.S. securities laws and, accordingly, are also subject to additional resale restrictions. The offering is subject to final acceptance of the Canadian Securities Exchange.

About Bunker Hill Mining Corp.

Bunker Hill Mining has an option to acquire 100 per cent of the Bunker Hill mine.

We seek Safe Harbor.

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