RE: Bunker Hill News2 Oct 2020 09:03
Original CAD$1.5m loan to BNKR @19-Jun-2018: https://www.ldmicro.com/profile/bnkr.cn/news/7472344428464736
Additional CAD$0.5m loan to BNKR @9-Aug-2018: https://www.ldmicro.com/profile/bnkr.cn/news/6308468772374462
CAD$2m loan & issue of warrants to HUM confirmed 13-Aug-2018: https://www.ldmicro.com/profile/bnkr.cn/news/8577575775895443
Under the terms of the Amended and Restated Loan Agreement with Hummingbird Resources PLC (“Hummingbird”) having a principal amount of USD$2,000,000 and bearing interest at 10%, maturing June 13, 2019, Hummingbird may, at any time prior to maturity, convert any or all of the principal amount of the loan and accrued interest thereon, into common shares of Bunker as follows: (i) USD$1,500,000, being the original principal amount (“Principal Amount”), and using a USD/CAD currency conversion rate of .7689, the Principal Amount may be converted at a price per share equal to $0.85, entitling Hummingbird to acquire 2,294,835 common shares upon conversion of the Principal Amount, and 229,411 common shares upon conversion of the unpaid and accrued interest thereon; (ii) 2,294,835 common shares may be acquired upon exercise of warrants at a price of $0.85 per warrant for a period of two years from the date of issuance; (iii) USD$500,000, being the additional principal amount (“Additional Amount”) and using a USD/CAD currency conversion rate of .7507, the Additional Amount may be converted at a price per share equal to $0.45, entitling Hummingbird to acquire 1,477,777 common shares upon conversion of the Additional Amount, and 147,777 common shares upon conversion of the unpaid and accrued interest thereon; and (iv) 1,167,143 common shares may be acquired upon exercise of warrants at a price of $0.45 per warrant for a period of two years from the date issuance.
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