Bunker Hill Mining Corp. filed a Form 8-K on October 28, 2026, reporting a US$2.0 million draw on its Teck revolving standby prepayment facility and the results of a special stockholder meeting approving two proposals related to its planned arrangement with Silver47 Exploration Corp.

Key Highlights

  • Additional draw: On October 26, 2026, Bunker Hill drew an additional US$2.0 million under the Teck standby prepayment facility, bringing the total outstanding to US$10.0 million.
  • Interest rates: Amounts drawn bear interest at 13.5% per annum through June 30, 2027, rising to 15.0% per annum thereafter, with default interest at the applicable rate plus 3.0% per annum.
  • Facility terms: The facility is uncommitted and repayable on demand, with a maximum principal of US$10.0 million and an availability period ending no later than June 30, 2028.
  • Charter Amendment approved: Stockholders voted 25,847,044 for, 1,444,013 against, and 4,702 abstentions to increase authorized shares of common stock from 100,000,000 to 400,000,000.
  • Share issuance approved: Stockholders voted 25,949,684 for, 1,327,715 against, and 18,360 abstentions to approve issuance of up to 51,965,961 shares to former Silver47 securityholders.
  • Meeting quorum: At the October 28, 2026 special meeting, 27,295,759 shares, representing approximately 57.8% of the 47,207,589 shares outstanding as of the September 24, 2026 record date, were present in person or by proxy.

Bunker Hill Taps Full Teck Credit Line and Wins Stockholder Votes for Silver47 Arrangement

According to the filing, Bunker Hill Mining Corp. drew an additional US$2.0 million on October 26, 2026 under its uncommitted demand revolving standby prepayment facility with Teck Metals Ltd. The draw brings the total outstanding under the facility to US$10.0 million, which the company disclosed represents the facility's aggregate maximum principal amount. The company stated the proceeds "will be used to support working capital requirements and ongoing operational activities as the Company advances toward full commercial production."

The filing describes the facility, originally established pursuant to a Standby Prepayment Facility Agreement dated June 5, 2025, as involving Bunker Hill, Silver Valley Metals Corp. as co-borrower, and Teck Metals Ltd. as lender. Interest is calculated on a 360-day year and capitalized quarterly in arrears. The company's obligations are secured by a first-ranking security interest over substantially all property and assets of the obligors, subject to permitted liens. The availability period ends on the earliest of June 30, 2028, the date the project reaches 90% of nameplate capacity, or termination by the lender. Amounts repaid may be reborrowed, and each advance must be at least US$500,000.

Separately, the filing reports that at the October 28, 2026 special meeting, stockholders approved both the Charter Amendment Proposal and the Share Issuance Proposal in connection with the planned arrangement with Silver47 Exploration Corp. The arrangement agreement was entered into on August 20, 2026, according to the filing. The share issuance approved covers up to 51,965,961 Bunker Hill shares to be issued to former Silver47 securityholders, including a 2% buffer described as being "to account for administrative and clerical matters." The securities registered pursuant to Section 12(b) of the Act are listed as "None" on the filing's cover page.

What Was Disclosed

Bunker Hill Mining Corp. disclosed a US$2.0 million facility draw on October 26, 2026, reaching the US$10.0 million facility maximum, and reported stockholder approval of proposals to expand authorized shares and issue up to 51,965,961 shares in connection with the Silver47 arrangement.