Merger combines Idaho silver mine with US exploration assets, creating a focused domestic critical minerals producer.
Bunker Hill Mining will acquire all outstanding shares of Silver47 Exploration in a deal valuing the combined entity at approximately $326m. The transaction, structured as a plan of arrangement, aims to consolidate US-based silver and critical minerals production under a single entity trading on the Toronto Stock Exchange.
Silver47 shareholders will receive 0.1724 Bunker Hill shares per share held, resulting in Bunker Hill shareholders owning 57% of the merged company. The deal unites Bunker Hill’s Idaho mine, nearing commercial production, with Silver47’s exploration projects in Alaska, Nevada, and New Mexico.
The new company, set to be renamed Bunker Hill Silver, will fund growth using $10m in prepayment financing and expected operating cash flow. Projects include Bunker Hill 2.0, Hughes, Red Mountain, and Mogollon.