Bunker Hill Mining Draws $4M Under Ocean Partners Prepayment Facility

What Happened
Bunker Hill Mining Corp. announced in an 8-K that on September 16, 2026 it drew US$4.0 million under its Prepayment Agreement with Ocean Partners UK Limited (the Ocean Partners Facility). This is the second draw under the facility, bringing outstanding principal to US$8.0 million of the US$10.0 million available. Proceeds will be used for working capital at the Bunker Hill Mine in Idaho. The Prepayment Agreement was dated August 20, 2026 and previously filed as Exhibit 10.1 in the Company’s August 25, 2026 8-K.

Key Details

• Draw amount: US$4.0 million on September 16, 2026 (second draw).
• Facility size/outstanding: US$10.0 million maximum; US$8.0 million outstanding after this draw.
• Interest: 7.0% per annum plus the three‑month secured overnight financing rate (CME Group SOFR); interest accrues daily and is payable monthly in arrears (first business day of next month).
• Default terms & payment: In an event of default, interest increases by 3.0% per annum (360‑day year). Borrower may pay interest either by setoff against concentrate payments or in cash.

Why It Matters
This draw shows Bunker Hill is using the Ocean Partners prepayment facility to fund near‑term working capital needs at its Idaho mine rather than issuing equity or other longer‑term debt. The facility increases liquidity but also creates a short‑term financial obligation that carries a market‑linked interest cost (SOFR + 7%) and could become more expensive if the company defaults. Investors should note the remaining capacity under the facility (US$2.0M) and the outstanding principal (US$8.0M) when assessing the company’s near‑term cash position and financing mix.