−Removed: LEGAL PROCEEDINGS.
−Removed: Other than as described below, neither the Company nor its property is the subject of any current, pending, or threatened legal proceedings.
−Removed: The Company is not aware of any other legal proceedings in which any director, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of the Company’s voting securities, or any associate of any such director, officer, affiliate or security holder of the Company, is a party adverse to the Company or any of its subsidiaries or has a material interest adverse to the Company or any of its subsidiaries.
−Removed: In addition to the payments to Placer Mining, pursuant to agreements with the United States Environmental Protection Agency (“EPA”) whereby for so long as Bunker leases, owns and/or occupies the Bunker Hill Mine, the Company will be responsible for water treatment costs from mine water outflows from the Bunker Hill Mine.
−Removed: These payments currently are estimated at $960,000 annually and are to be made to the EPA in two semi-annual payments of $480,000 due semi-annually on June 1 and December 1 of each year.
−Removed: Additionally, the Company has agreed to make payments to the EPA on behalf of the current owner in satisfaction of the EPA’s claim for response cost recovery.
−Removed: These payments, if all are made, will total $20 million.
−Removed: The cost recovery agreement calls for payments starting with $1 million 30 days after a fully ratified agreement was signed (which payment was made) followed by $2 million on November 1, 2018 and $3 million on each of the next 5 anniversaries with a final $2 million payment on November 1, 2024.
−Removed: The November 1, 2018 and November 1, 2019 cost recovery payments were not made, and the December 1, 2018 and June 1, 2019 water treatment payments were not made.
−Removed: The Company remains in active discussions with the EPA to amend and/or defer payments, or to propose a satisfactory lump sum payment arrangement to entirely pay its outstanding obligations.
−Removed: In recent email transmittals the Department of Justice (acting as counsel for the EPA) has intimated that unless the Company can in the near term propose acceptable payment arrangements to bring its accounts payable current, legal action may occur to enforce one or more of the agreements the Company has with the EPA.
−Removed: Thus, current and prospective investors and shareholders should be aware that unless the Company is able to make satisfactory arrangements with the EPA in the near term, the EPA may decide to formally declare a default on both the water treatment agreement and the cost recovery agreement which would adversely affect the ability of the Company to continue to undertake its business plan.
−Removed: RISK FACTORS.
−Removed: Not Applicable.
+Added: than as described below, neither the Company nor its property is the subject of any current, pending, or threatened legal proceedings.
+Added: The Company is not aware of any other legal proceedings in which any director, officer or affiliate of the Company, any owner
+Added: of record or beneficially of more than 5% of any class of the Company’s voting securities, or any associate of any such
+Added: director, officer, affiliate or security holder of the Company, is a party adverse to the Company or any of its subsidiaries or
+Added: has a material interest adverse to the Company or any of its subsidiaries.
+Added: 1A - Risk Factors of the Company’s report filed on Form 10-KT for the six months ended December 31, 2020 sets forth
+Added: information relating to important risks and uncertainties that could materially adversely affect the Company’s business,
+Added: financial condition or operating results.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.