Mr. Dave Kriedeman of Placer reports
BUNKER ANNOUNCES FURTHER EXTENSION ON LEASE WITH PLACER MINING CORPORATION
Bunker Hill Mining Corp. has secured with a $150,000 (U.S.) cash payment a further extension to the lease with the option to purchase the Bunker Hill mine complex from the landowner, Placer Mining Corp. The extension is for a further 18 months and is in addition to the six-month extension previously announced. This extension expires on Aug. 1, 2022.
This extension provides the company with more time to invest the proceeds of the financing in ways that compile and digitize fully over 95 years of historical and geological data, verify the historical reserves, and explore the high-grade silver targets within the mine complex.
Dave Kriedeman, the president of Placer Mining, comments that: "Over the last six months there has been more activity on the ground at Bunker Hill than in the last 20 years. The Placer Mining Corp. is very excited to be partnered with Sam Ash and his new Bunker Hill team who we feel will successfully highlight the remarkable untapped value in this mine as the first step in bringing it back into production."
On Aug. 10, 2020, the company announced an increase in the size of its previously announced brokered best efforts equity private placement to approximately $20.4-million. The offering led by a syndicate of agents is a best-efforts brokered private placement of up to 58,285,714 units of the company at 35 cents per unit. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of 50 cents per common share for a period of three years. The first tranche of the offering is expected to close on or about Aug. 14, 2020, and will be subject to receipt of all necessary regulatory approvals. The units and securities underlying them will be subject to a six-month hold period in accordance with applicable securities laws.
About Bunker Hill Mining Corp.
Information about the company is available on its website, or within the SEDAR and EDGAR databases.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.