Bunker Hill to issue 100,499 shares for interest payments

Bunker Hill Mining Corp. said it has elected to issue 100,499 common shares in full satisfaction of interest payable on Sept. 30, 2026 under certain debt instruments. The company said the shares will cover US$76,666.67 owed on 5.0% Series 1 secured convertible debentures and US$191,666.67 owed on 5.0% Series 2 secured convertible debentures.

The company said 28,714 of the shares will go to certain holders of the Series 1 debentures and 71,785 will go to certain holders of the Series 2 debentures. It said the Series 1 debentures mature on March 31, 2028 and the Series 2 debentures mature on March 31, 2029.

Bunker Hill said the shares will be issued at US$2.67, or about C$3.79, each, based on 90% of the 10-day volume weighted average trading price for the relevant pricing period from Sept. 15, 2026 to Sept. 28, 2026. The company said 95,713 of the shares will be issued to certain managed accounts of Sprott Private Resource Streaming and Royalty Corp., which means that part of the issuance will be a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Shareholder Approval.

The company said it intends to rely on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101 because neither the fair market value of the shares to be issued to Sprott nor the consideration received for them will exceed 25% of the company’s market capitalization. It also said the issuance remains subject to the debt instruments’ terms and to regulatory approvals, including approval of the exchange, and that the shares will be subject to a four-month and one-day hold period once issued.

Bunker Hill said the shares have not been and will not be registered under the U.S. Securities Act of 1933 or any U.S. state securities laws, and may not be offered or sold in the United States without registration or an applicable exemption.