Honey Badger Announces Non-Brokered Private Placement of up to $1.5 Million

Executive Summary

• Honey Badger Silver Inc. announced a non‑brokered private placement to raise up to C$1.5 million by issuing up to 6,521,739 units at $0.18 per unit.
• Each unit consists of one common share and one warrant (exercise price $0.23, 36‑month term).
• Executive Chairman Chad Williams intends to purchase up to C$1 million of the units; the company also plans to grant 2 million stock options at an exercise price of $0.21 per share.

Key Details

• Offering Size: Up to C$1,500,000 total gross proceeds.
• Units Offered: Maximum of 6,521,739 units at $0.18 CAD each.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Right to buy one additional share at $0.23 per share; exercisable for 36 months from issuance; anti‑dilution adjustments apply.
• Closing Date: Expected on or about 2026‑01‑16, subject to TSX Venture Exchange approval and regulatory clearance.
• Related Party Participation: Chad Williams (Executive Chairman) may subscribe for up to C$1 million of units; transaction qualifies as a “related party transaction” under MI 61‑101 but is exempt from formal valuation or minority shareholder approval because the fair market value does not exceed 25 % of market cap.
• Use of Proceeds: Advance silver projects and general working capital.
• Statutory Hold Period: All securities issued will be subject to a four‑month hold period under Canadian securities law.
• Finder’s Fee: Company anticipates paying a cash finder’s fee to eligible parties on a portion of the placement.
• Additional Equity Incentive: Plan to grant an aggregate of 2 million stock options at $0.21 per common share, pending regulatory approval.

Notable Quotes

(No direct quotes were provided in the release.)