Bunker Hill Mining Corp. announced that its stockholders have approved a strategic business combination with Silver47 Exploration Corp. The special meeting of stockholders was held on October 28, 2026, in Kellogg, Idaho. At the close of business on September 24, 2026, there were 47,207,589 shares of common stock issued and outstanding. A total of 27,295,759 shares, representing approximately 57.8% of the issued and outstanding shares, were present in person or by proxy, constituting a quorum.
The stockholders voted to approve two key proposals. Proposal 1, the Charter Amendment Proposal, was approved by 25,847,044 votes, representing 94.69% of the votes cast. This amendment increases the authorized shares of Bunker Hill Common Stock from 100,000,000 to 400,000,000 shares, conditioned upon the closing of the Arrangement. Proposal 2, the Share Issuance Proposal, was approved by 25,949,684 votes, representing 95.07% of the votes cast. This proposal authorizes the issuance of up to 51,965,961 Bunker Hill Shares to former Silver47 securityholders, including shares issuable upon the exchange or settlement of convertible securities issued by Silver47. The total number of shares authorized for issuance includes a 2% buffer for administrative matters.
Separately, the company reported that it has drawn an additional US$2.0 million under its uncommitted demand revolving standby prepayment facility established with Teck Metals Ltd. Following this drawdown, the total outstanding draw on the Teck Facility is US$10.0 million. The proceeds from the drawdown are intended to support working capital requirements and ongoing operational activities as the company advances toward full commercial production. The company also confirmed that it has drawn the full US$10.0 million available under its concentrate prepayment facility with Ocean Partners UK Ltd. Together, the drawdowns provided aggregate proceeds of US$20,000,000 to the company.
The business combination remains subject to the satisfaction of customary closing conditions, including the receipt of final court and stock exchange approvals. The company anticipates that closing of the transaction will occur on or about November 5, 2026. In addition to the approval by Bunker Hill stockholders, Silver47 shareholders approved the transaction at its special meeting held on October 27, 2026.
