Bunker Hill Mining Corp.  (CSE:BNKR) is pleased to announce that it has closed the final tranche of its previously announced private placement led by Red Cloud Klondike Strike Inc. and including Haywood Securities Inc. to raise gross proceeds of C$487,500. In total, together with the first tranche of the private placement which closed on December 6, 2017, the Company has raised C$10,155,400.

Pursuant to the Second Tranche, the Company issued 390,000 units at a price of C$1.25 per Unit. Each Unit is comprised of 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 C$2.00 until December 13, 2020. 

In connection with the Offering, the Agents received a cash fee in an amount equal to 8.0% 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 4.0% 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 C$2.00 for thirty-six months following its issuance. The Company has issued an aggregate of 276,560 Broker Warrants to the Agents in connection with the Offering.

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 Second Tranche are subject to a hold period under applicable securities law until June 13, 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 Stock Exchange.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About Bunker Hill Mining Corp.
 

Bunker Hill Mining Corp. has an option to acquire 100% of the Bunker Hill Mine. Information about the Company is available on its website, www.bunkerhillmining.com, or in the SEDAR and EDGAR databases.