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Honey Badger Silver Inc (2)
Symbol TUF
Shares Issued 73,114,670
Close 2024-12-31 C$ 0.11
Market Cap C$ 8,042,614
Recent Sedar Documents

Honey Badger to close financing at $1-million

2024-12-31 18:00 ET - News Release

Mr. Dorian Nicol reports

HONEY BADGER SILVER PROVIDES UPDATE ON NON-BROKERED PRIVATE PLACEMENT

Honey Badger Silver Inc. has provided further information respecting its non-brokered placement, which was the subject of its news releases of Nov. 21, 2024, and Dec. 16, 2024.

The company intends to close on aggregate gross proceeds of $1,000,400, from the sale of:

  • 6,276,923 non-flow-through (NFT) units at a purchase price of 13 cents per NFT unit for gross proceeds of $816,000;
  • 1,152,500 flow-through (FT) shares at a price of 16 cents per FT share for gross proceeds of $184,400.

As previously described, the company anticipates that, upon the closing of additional tranches, the offering will consist of a combination of NFT units at the NFT offering price and FT shares at the FT offering price.

Each NFT unit will consist of one non-flow-through common share of the company and one non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the company for an exercise price of 18 cents per share for a period of 36 months from its date of issuance.

Each FT share will consist of one flow-through common share of the company.

The company will use the proceeds of the sale of FT shares in the offering to finance programs to advance one or more of the company's properties located in Yukon, Northwest Territories and Nunavut that will qualify, once renounced, as flow-through mining expenditures, as that term is defined in the Income Tax Act (Canada). The company intends to use the net proceeds of the sale of the NFT units to finance programs to advance one or more of the company's properties and for general and administrative purposes.

The securities issued in connection with the offering will be subject to a four-month-and-one-day hold period. The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. Finders' fees will be payable in the offering.

About Honey Badger Silver Inc.

Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a record of value creation backed by a skilled technical team. Its projects are located in areas with a long history of mining, including the Sunrise Lake project, with a historical resource of 12.8 million ounces of silver (and 201.3 million pounds of zinc) indicated and 13.9 million ounces of silver (and 247.8 million pounds of zinc) inferred, located in the Northwest Territories, and the Plata high-grade silver project, located 165 kilometres east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The company's Clear Lake project in Yukon has a historical resource of 5.5 million ounces of silver and 1.3 billion pounds of zinc. The company also has a significant landholding at the Nanisivik mine area, located in Nunavut, Canada, which produced over 20 million ounces of silver between 1976 and 2002. A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling/sampling, will be required to verify any of the historical estimates as a current mineral resources.

We seek Safe Harbor.

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