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Sam Ash, CEO and David Wiens, CFO to host Live Interactive Virtual Investor Event on
Wednesday, June 16 @ 11:00am ET / 8:00am PT. Investors are invited to register for this event at: LINK
TORONTO, June 14, 2021 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTC: BHLL) is pleased to announce the achievement of a key milestone in its efforts to increase its U.S. trading liquidity: as of today, its listing on OTC Markets under symbol BHLL is no longer subject to ‘caveat emptor’ classification as a result of clearance by FINRA and OTC Markets, following extensive regulatory review. As a result, an active market now exists for the Company’s shares in the U.S., with bid and ask quotes permitted and available, and availability for U.S. trading without restrictions on a wide variety of brokerage platforms.
Prior to June 2021, and related to regulatory compliance issues in the 2011-2012 period under previous management, board and shareholders, the Company’s shares had traded in the ‘Grey Market’, where no bid or ask quotes are available, and trading is restricted on many brokerage platforms. See the ‘Background’ section below for more detail. This had effectively resulted in the inability of the vast majority of investors to trade the Company’s shares in the U.S. for the last nine years, which the Company believes has been a primary contributor to its low level of trading liquidity.
As a logical next step, the Company has submitted an application for an upgrade to the OTCQB, which it believes will further increase U.S. trading liquidity and benefit investors.
Sam Ash CEO stated, “We are delighted to achieve this key milestone, which not only immediately improves market trading access for our investors, but directly addresses concerns expressed by existing and potential new investors regarding historic issues that preceded the current management and Board. We look forward to working with OTC Markets over the coming weeks on our OTCQB application, as the next step in continuing to mature the company.”
BACKGROUND
In March 2021, the Company engaged B. Riley, a leading U.S. brokerage firm, as its exclusive capital markets advisor with respect to its U.S. share listing under symbol BHLL on OTC Markets. After a period of comprehensive due diligence which included an examination of the Company’s public filings, governance, shareholder register, and all legal and other documentation pertaining to its ‘caveat emptor’ status, B. Riley filed a Form 211 with FINRA in which it proposed to act as a market maker for the Company’s shares in the U.S. and attested to its belief that the Company’s U.S. listing was in full compliance with requirements prescribed by FINRA. On May 26, 2021, following extensive review, the Form 211 was cleared.
Clearance of the Form 211 by FINRA was a pre-condition to an application with OTC Markets for the removal of the Company’s ‘caveat emptor’ status. As such, the Company submitted an application to OTC Markets at the end of May 2021. The Company received formal notice of the approval of its application on June 11, 2021.
The Company’s former trading in the ‘Grey Market’ and ‘caveat emptor’ status related to an SEC investigation of a former significant shareholder of Liberty Silver Corp. in the 2011-2012 period, due to an alleged breach of U.S. securities laws. Liberty Silver Corp. changed its name to Bunker Hill Mining Corp. in 2017. The Company’s current leadership team was appointed in March 2020 and thereafter.
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ABOUT BUNKER HILL MINING
CORP.
Under new Idaho-based leadership, Bunker Hill Mining Corp. intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or under its profile on SEDAR and EDGAR.
For additional information contact: ir @bunkerhillmining.com
Cautionary Statements
Certain statements in
this news release are forward-looking and involve a number of risks and
uncertainties. Such forward-looking statements are within the meaning of
that term in Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, as well as
within the meaning of the phrase ‘forward-looking information’ in the
Canadian Securities Administrators’ National Instrument 51-102 – Continuous
Disclosure Obligations. Forward-looking statements are not comprised of
historical facts. Forward-looking statements include estimates and
statements that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management expects a
stated condition or result to occur. Forward-looking statements may be
identified by such terms as “believes”, “anticipates”, “expects”,
“estimates”, “may”, “could”, “would”, “will”, or “plan”. Since
forward-looking statements are based on assumptions and address future
events and conditions, by their very nature they involve inherent risks and
uncertainties. Although these statements are based on information currently
available to the Company, the Company provides no assurance that actual
results will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release includes, but
is not limited to: the potential increase in trading liquidity, the
approval of the Company’s application for an upgrade to the OTCQB, and the
Company’s intentions regarding its objectives, goals or future plans and
statements, including the restart of the Bunker Hill Mine. Factors that
could cause actual results to differ materially from such forward-looking
information include, but are not limited to those risks set out in the
Company’s public documents filed on SEDAR and EDGAR. Although the Company
believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue
reliance should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all. The Company
disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, other than as required by law. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein.
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