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 an all-stock deal valued at approximately $163 million to acquire Silver47 Exploration (TSX-V: AGA; OTCQX: AAGA). Silver47 shareholders will receive 0.1724 Bunker Hill 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. The combined entity will be named Bunker Hill Silver, with existing Bunker Hill shareholders owning 57% and 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.