What changed in this filing

/stocks — the workspaceLOADING

Item 5. Market for Registrant’s Common Equity

2026-03-06 compared with 2025-03-28 · 100 added, 41 removed, 12 unchanged (92% of the section changed)

1 unchanged sentence

common stock is traded on TSXV under the symbol “BNKR” and on the OTCQB under the symbol “BHLL”.

of March 28, 2025, there were approximately 160 stockholders of record of our common stock and, according to our estimates,

approximately 500 beneficial owners of our common stock.

of February 25, 2026, there were approximately 160 stockholders of record of our common stock and, according to our estimates, approximately

500 beneficial owners of our common stock.

Sales of Securities

of Common Stock Issued in Satisfaction of Interest Payable on Convertible Debentures

Company and Sprott entered into (i) six convertible debentures

on January 28, 2022 in the aggregate principal amount of $6,000,000 (the “CD1”) and (ii) three convertible debentures on

June 17, 2022 in the aggregate principal amount of $15,000,000 (the “CD2” and together with the CD1, the “convertible

debentures”).

Pursuant to the terms of the convertible debentures, the Company may elect to pay the accrued and unpaid interest

due thereunder by issuing shares of common stock of the Company, as opposed to paying cash, at the conversion price set forth therein.

On January 9, 2024, the Company issued 7,392,859 shares of common stock in connection with its election to satisfy interest payments

under the outstanding convertible debentures for the three months ended December 31, 2023.

of Common Stock Issued in Private Placements

June 5, 2025, the Company issued 7,206,165 common shares in connection with the brokered and non-brokered offerings.

September 29, 2025, the Company issued 12,321,429 common shares in connection with the brokered offering.

of Common Stock Issued in Capital Restructuring

June 5, 2025 the Company settled outstanding payables and other amounts owing in the aggregate amounts of $3,072,254 and C$195,000

with certain creditors, insiders and contractors of the Corporation or its wholly-owned subsidiary, Silver Valley Metals Corp.

Valley”) via issuance of 865,777 common shares to certain other arm’s length creditors or contractors of the Corporation

and 7,354 Common Shares to four directors of the Corporation for their services for the period beginning on March 1, 2025 and ending

on April 30, 2025.

June 5, 2025 the Company issued 21,769 common shares to satisfy $80,000 in cooperation fees for the period beginning on January 1, 2025

and ending on April 30, 2025 pursuant the Financing Cooperation Agreement.

June 5, 2025 the company issued 136,055 shares to satisfy a payment of $500,000, representing a portion of the purchase price payable

under an option agreement dated March 3, 2023 whereby Silver Valley has an option to purchase certain real property in Idaho from C&E

Tree Farm, LLC.

June 5, 2025 the Company issued to Sprott in aggregate of 7,534,014 Common Shares, as follows:

Common Shares upon Sprott’s conversion of $6,200,000 in principal and accrued

and unpaid interest outstanding thereon up to May 31, 2025, under the existing senior secured

loan agreement in the aggregate principal amount of $21,000,000 previously advanced by Sprott;

Common Shares, of which 5,317,483 are being issued to Sprott 396,803 Common

Shares are being issued certain subscribers under the Brokered Offering in exchange of the

termination of the metals purchase agreement dated June 23, 2023 between the Corporation,

Silver Valley and Sprott pursuant to which Sprott advanced a $46,000,000

deposit to Silver Valley

Common Shares in full satisfaction of an aggregate of $487,500 of accrued and unpaid interest

owing under certain outstanding secured convertible debentures of the Corporation for the

period beginning on January 1, 2025 and ending on March 31, 2025.

of Common Stock Issued in Satisfaction of Interest Payable on debt instruments

Company and Sprott entered into (i) six convertible debentures on January 28, 2022 in the aggregate principal amount of $6,000,000 (the

“CD1”), (ii) three convertible debentures on June 17, 2022 in the aggregate principal amount of $15,000,000 (the “CD2”,

and together with CD1 the “Convertible Debentures”) (iii) loan facility on December 12, 2025 in aggregate principal amount

of $21,000,000 amended to be reduced to $15,000,000 on June 5, 2025 (the “Loan Facility”) and together with the CD1, the

CD2, (the “debt Instruments”).

Pursuant to the terms of the Debt Instruments, the Company may elect to pay the accrued and

unpaid interest due thereunder by issuing shares of common stock of the Company, as opposed to paying cash, at the conversion price set

forth therein.

On January 14, 2025, the Company issued 211,225 shares of common stock in connection with its election to satisfy interest

payments under the outstanding Convertible Debentures for the three months ended December 31, 2024.

On April 14, 2025, the Company issued

shares of common stock in connection with its election to satisfy interest payments under the outstanding convertible debentures for

the three months ended March 31, 2024.

On July 8, 2023, the Company issued 4,653,409 shares of common stock in connection with its election

to satisfy interest payments under the outstanding convertible debentures for the three months ended June 30, 2024.

On October 3, 2024,

the Company issued 5,175,000 shares of common stock in connection with its election to satisfy interest payments under the outstanding

convertible debentures for the three months ended September 30, 2024.

On October 28, 2024, the Company issued 750,000 shares of common

5,358 shares of common stock in connection with its election to satisfy interest payments under the outstanding Convertible Debentures

for the three months ended March 31, 2025.

On July 9, 2025, the Company issued 439,385 shares of common stock in connection with its

election to satisfy interest payments under the outstanding Convertible Debentures for the three months ended June 30, 2025, and on the

Loan Facility for the six months ending June 30, 2025.

On October 6, 2025, the Company issued 63,889 shares of common stock in connection

with its election to satisfy interest payments under the outstanding Convertible Debentures for the three months ended September 30,

Company relied on the exemption from registration under Section 4(a)(2) of the U.S.

Securities Act of 1933, as amended, or Rule 506 of

Regulation D, or Regulation S, and in reliance on similar exemptions under applicable state laws, for purposes of issuance of the shares

in satisfaction of the interest payable under the convertible debentures.

of Common Stock Issued in Satisfaction of debt

January 8, 2025, the Company issued 30,096 shares of common stock in connection with its election to satisfy financing cooperation

fees relating to the Financing Cooperation Agreement for the six months ended September 30, 2024.

On January 29, 2025, the Company

issued 17,758 shares of common stock in connection with its election to satisfy financing cooperation fee relating to the Financing

Cooperation Agreement for the three months ended December 31, 2024.

On November 18, 2025, the Company issued 17,583 shares of common

stock in connection with settlement of DSUs.

The Company relied on the exemption from registration under Section 4(a)(2) of the U.S.

Securities Act of 1933, as amended, or Rule 506 of Regulation D, or Regulation S, and in reliance on similar exemptions under applicable

state laws, for purposes of issuance of the shares in satisfaction of the interest payable under the convertible debentures.

On December 30, 2025, the Company issued 9,396 shares of common stock in connection

with service agreement for the three months ended November 30, 2025.

Company relied on the exemption from registration under Section 4(a)(2) of the U.S.

Securities Act of 1933, as amended, or Rule 506 of

Regulation D, or Regulation S, and in reliance on similar exemptions under applicable state laws, for purposes of issuance of the shares

in satisfaction of the debt payments owed.

of Common Stock Issued to acquire properties

December 12, 2025, the Company issued 666,667 shares of common stock to acquire the Ranger Page Property from Silver Dollar Resources

(Idaho) Inc., a subsidiary of Silver Dollar Resources Inc.

Company relied on the exemption from registration under Section 4(a)(2) of the U.S.

Securities Act of 1933, as amended, or Rule 506 of

Regulation D, or Regulation S, and in reliance on similar exemptions under applicable state laws, for purposes of issuance of the shares

in satisfaction of the debt payments owed.

Issued Pursuant to Equity Incentive Plans

the fiscal year ended December 31, 2025, the Company issued 140,762 restricted stock units (“RSUs”) and 37,903 options

to purchase shares of common stock of the Company to directors, employees and consultants under the Company’s equity incentive

March 28, 2024, the Company issued 2,546,436 shares of common stock at a deemed price of C$0.125 for the settlement of RSUs.

April 16, 2024, the Company issued 100,000 shares of common stock at a deemed price of C$0.13 for the settlement of RSUs.

November 16, 2024, the Company issued 21,000 shares of common stock at a deemed price of C$0.125 for the settlement of RSUs.

to purchase shares of common stock of the Company to employees and consultants under the Company’s equity incentive plans.

January 26, 2025, the Company issued 19,213 shares of common stock at a deemed price of C$5.95 for the settlement of RSUs.

September 30, 2025, the Company issued 139,956 shares of common stock at a deemed price of C$6.65 for the settlement of RSUs.

Company relied on the exemption from registration under Section 4(a)(2) of the Securities Act, or Rule 506 of Regulation D, or Regulation

S, and in reliance on similar exemptions under applicable state laws, for purposes of the issuance of such securities.

August 9, 2024, the Company issued 1,280,591 Bonus Warrants to Monetary

Metals Bond III LLC in connection with the Silver Loan.

Each such warrant will entitle the holder to acquire one share of common stock

of the Company at an exercise price of C$0.16.

Each such warrant is exercisable until August 8, 2027.

October 1, 2024, the Company issued 400,000 Bonus Warrants to Monetary

Metals in connection with the Silver Loan.

Each such warrant will entitle the holder to acquire one share of common stock of the Company

at an exercise price of C$0.16.

Each such warrant is exercisable until August 8, 2027.

November 15, 2024, the Company issued 476,793 Bonus Warrants to Monetary

Metals in connection with the Silver Loan.

Each such warrant will entitle the holder to acquire one share of common stock of the Company

at an exercise price of C$0.12.

Each such warrant is exercisable until August 8, 2027.

June 5, 2025, the Company issued 3,603,083 in connection with the brokered and non brokered offerings.

Each such warrant will entitle

the holder to acquire one share of common stock of the Company at an exercise price of C$8.75.

Each such warrant is exercisable until

June 5, 2028.

September 29, 2025, the Company issued 12,321,429 in connection with the brokered offering.

Each such warrant will entitle the holder

to acquire one share of common stock of the Company at an exercise price of C$5.95.

Each such warrant is exercisable until September

November 21, 2025, the Company issued 2,869 Bonus Warrants to Monetary Metals Bond III LLC in connection with the Silver Loan.

such warrant will entitle the holder to acquire one share of common stock of the Company at an exercise price of C$6.65.

Each such warrant

is exercisable until August 8, 2027.

Company relied on the exemption from registration under Section 4(a)(2) of the Securities Act, or Rule 506 of Regulation D, and in reliance

on similar exemptions under applicable state laws, for purposes of the issuance of such warrants.

October 22, 2025, the Company issued 2,372 shares of common stock in connection with a stockholder’s warrant exercise.

14, 2025, the Company issued 7,846 shares of common stock in connection with a stockholder’s warrant exercise.

22, 2025, the Company issued 16,572 shares of common stock in connection with a stockholder’s warrant exercise.

On December 23,

2025, the Company issued 2,858 shares of common stock in connection with a stockholder’s warrant exercise.

On December 30, 2025,

the Company issued 2,858 shares of common stock in connection with a stockholder’s warrant exercise.

Company relied on the exemption from registration under Section 4(a)(2) of the Securities Act, or Rule 506 of Regulation D, and in reliance

on similar exemptions under applicable state laws, for purposes of the issuance of such securities.

Option Exercise

October 28, 2025, the Company issued 26,433 shares of common stock and 26,433 warrants exercisable into one share of common stock at

a strike price of C$5.25 with an expiry of March 27, 2026 in connection with a compensation option exercise.

Company relied on the exemption from registration under Section 4(a)(2) of the Securities Act, or Rule 506 of Regulation D, and in reliance

on similar exemptions under applicable state laws, for purposes of the issuance of such securities.

Purchases of Equity Securities

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.

What changed 10-K

Item 5. Market for Registrant’s Common Equity