Bunker Hill Mining Corp. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock is traded on TSXV under the symbol “BNKR” and on the OTCQB under the symbol “BHLL”. Stockholders As 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. Unregistered Sales of Securities Shares of Common Stock Issued in Satisfaction of Interest Payable on Convertible Debentures The 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. On April 4, 2024, the Company issued 6,398,439 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 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. 36 Securities Issued Pursuant to Equity Incentive Plans During the fiscal year ended December 31, 2024, the Company issued 9,720,403 restricted stock units (“RSUs”) and 87,493 options to purchase shares of common stock of the Company to directors, employees and consultants under the Company’s equity incentive plans. On 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. On 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. On 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. The 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. Warrants Issued On 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. On 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. On 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. The 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. Issuer Purchases of Equity Securities None. ITEM 6. [RESERVED] Not applicable. 37