Honey Badger closes $1.5-million private placement

Executive Summary

• Honey Badger Silver Inc. closed a non‑brokered flow‑through private placement, raising $1.5 million from the issuance of 4,838,710 common shares at C$0.31 per share.
• The proceeds will be used to fund Canadian exploration expenses and flow‑through critical mineral mining expenditures, to be incurred by Dec 31 2026 with renunciation to subscribers by Dec 31 2025.
• An additional $90,000 in finder’s fees was paid and 290,322 non‑transferable finder’s warrants were issued, each exercisable at C$0.35 per share for 18 months post‑closing.

Key Details

• Financing Structure: Non‑brokered private placement of flow‑through common shares (FT shares).
• Shares Issued: 4,838,710 FT common shares.
• Price per Share: C$0.31.
• Gross Proceeds: $1,500,000 CAD.
• Use of Proceeds: To incur Canadian exploration expenses and flow‑through critical mineral mining expenditures (CTE) as defined under the Income Tax Act; expenses to be incurred on or before Dec 31 2026 and renounced to subscribers by Dec 31 2025.
• Finder’s Compensation: $90,000 CAD paid in aggregate finder’s fees.
• Finder’s Warrants: 290,322 non‑transferable warrants issued to eligible finders; each warrant allows purchase of one common share at C$0.35, subject to anti‑dilution adjustments, exercisable for 18 months after closing.
• Holding Period: FT shares subject to a four‑month‑and‑one‑day hold period under Canadian securities laws.
• Regulatory Condition: Offering pending final approval from the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)