Bunker Hill Mining to acquire Silver47 Exploration in $163M all-stock deal

Published Aug 21, 12:12 PM UTC

Bunker Hill Mining (TSX: BNKR; OTCQB: BHLL) announced it will acquire Silver47 Exploration (TSX-V: AGA; OTCQX: AAGA) in an all-stock deal valued at approximately $163 million. Silver47 shareholders will receive 0.1724 Bunker Hill common shares per share, representing a 38% premium to Silver47's Thursday close. The merger pairs Bunker Hill's namesake mine in Idaho's Silver Valley with Silver47's exploration portfolio in Alaska, Nevada, and New Mexico, creating a larger US-focused silver and critical minerals company named Bunker Hill Silver. Existing Bunker Hill shareholders will own 57% of the combined entity, with Silver47 investors holding 43%. Bunker Hill also secured about $11 million in new financing, including a $10-million concentrate prepayment facility with Ocean Partners UK and a $1-million draw from Teck Resources. The transaction is expected to close in November 2026, with the combined company continuing to trade on the Toronto Stock Exchange.