Bunker Hill Mining Corp. (OTC:BHLL) Stock In Focus After Recent News
This morning, most investors are going to be looking into the stocks of those companies that may have come into the news cycle last Friday, and by that token, Bunker Hill Mining Corp. (OTC:BHLL) could be one of the companies worth tracking.
On March 22, the company came into focus after it announced that it had decided to issue a total of 6398439 shares of the common stock in Bunker Hill Mining to some holders of its 7.5% convertible debentures and 10.5% convertible debentures. The issuance of the common shares helped the company fully satisfy the interest amount of $511,875 that was to become due on March 31, 2023.
It should be noted that the convertible debentures will mature on March 31, 2026. As per the terms of the above-mentioned convertible debentures, the company would issue the interest shares at a price of $0.08 each. The price had been determined on the basis of 90% of the 10-day trading price of the common shares on the dates starting from March 8, 2024, up until March 21, 2024, on the TSX Venture Exchange.
In the news release, it was also revealed that the company would issue a total of 6161459 interest shares to some of the managed accounts belonging to Sprott Private Resource Streaming and Royalty Corp. The issuance of those interest shares to Sprott Streaming would also be considered a ‘related party transaction’.
In the news release, it was also noted by Bunker Hill Mining that it had not filed a material change report more than 21 days before choosing to issue the interest shares. It did not do so since the pricing period ended a day before on March 21, 2024. In light of these developments, it could be a good move for investors to add Bunker Hill Mining stock to their watch lists.
