Bunker Hill Mining has agreed to acquire Silver47 Exploration in an all-stock merger valued at around $163 million, forming a larger U.S. silver and critical minerals producer.
The junior mining company on Friday said that Silver47 shareholders will receive 0.1724 Bunker Hill common shares for each Silver47 share held.
Sivler47, which trades on the TSX Venture Exchange, has been under pressure throughout the year. The company's stock has fallen nearly 36% since the start of 2026 to close on Thursday at 67 Canadian cents (49 U.S. cents).
Bunker Hill said the offer represents a 38% premium to Silver47's Thursday's closing price and about a 30% premium to the 20-day volume weighted average price.
The transaction will combine Bunker Hill's working mine in the Silver Valley of Idaho, with Silver47's silver-focused U.S. exploration and development pipeline in Alaska, Nevada and New Mexico.
Once the transaction is complete, existing Bunker Hill shareholders will own 57% and Silver47 shareholders will own 43% of the combined company to be named Bunker Hill Silver.
The deal is expected to be completed in November, after which the company will continue to trade on the Toronto Stock Exchange.
Additionally, Bunker Hill said it has secured about $11 million in new funding from its existing partners, $10 million of which is in the form of a concentrate prepayment facility with Ocean Partners UK, and drawing $1 million under its standby facility with Teck Resources.
Comments