World News: 00:51 GMT Saturday 18th May 2019. [Bunker Hill Mining Corp. via Globe Newswire via SPi World News]
TORONTO, May 17, 2019 (GLOBE NEWSWIRE) -- (the “” or “”) (CSE:BNKR) announces a consolidation of its issued and outstanding share capital on the basis of one (1) post- consolidation share for each ten (10) pre-consolidation common shares (the “”). Any fraction of a share will be rounded up to the nearest whole number. The shares will begin trading on a consolidated basis and with a new CUSIP number on May 23, 2019.
As a result of the Consolidation, the outstanding shares of the Company will be reduced to approximately 4,151,396.
Over the past year Bunker Hill has conducted smaller financings each at low prices, effectively to maintain its existence and property holdings. At our current share price and with current market conditions we do not believe that continued financing at low share prices will allow us to achieve the objectives of our corporate strategy to develop the Bunker Hill project. We want to ensure we are in a position to raise sufficient levels of funding at reasonable dilution levels to support robust development programs where there is potential to create value within reasonable timeframes. In addition, management of the Company believes that the proposed share consolidation will position the Company to gain greater exposure to investors that are not willing to trade equity stocks below a certain threshold. Management believes the share consolidation will increase its liquidity.
The Company will not be changing its name and trading symbol in connection with the Consolidation. Trading on a Consolidated Basis: May 23, 2019
Record Date: May 24, 2019
New CUSIP: 120613 203
New ISIN: US1206132037
John Ryan, Interim Chief Executive Officer+1.201.509.3797
Marketing and Communications(416) 477-7777 ext. 205
Globe Newswire: 00:51 GMT Saturday 18th May 2019
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