Honey Badger increases placement to $2.25-million

Executive Summary

• Honey Badger Silver Inc. has upsized its non-brokered private placement from an initial target of $1.5 million to approximately $2.25 million due to strong investor demand.
• The offering consists of up to 12.5 million units priced at C$0.18 per unit, with net proceeds designated for advancing silver projects and general working capital.
• An insider intends to subscribe for approximately 2.78 million units (approx. $500,000), constituting a related party transaction exempt from formal valuation and minority shareholder approval requirements under MI 61-101.

Key Details

• Offering Size: Upsized to up to 12.5 million units.
• Price: C$0.18 per unit.
• Gross Proceeds: Up to approximately C$2.25 million.
• Structure: Non-brokered private placement of units.
• Use of Proceeds: Advancing the company's silver projects and for general working capital purposes.
• Closing Date: Scheduled on or about January 16, 2026, subject to TSX Venture Exchange approval.
• Hold Period: Four months plus one day statutory hold period in accordance with Canadian securities laws.
• Insider Subscription: An insider intends to subscribe for approximately 2,777,778 units for gross proceeds of approximately $500,000.
• Regulatory Status: The insider subscription is a related party transaction under Multilateral Instrument 61-101 but is exempt from formal valuation and minority shareholder approval requirements because the insider's subscription does not exceed 25% of the company's market capitalization.
• Finders' Fees: The company anticipates paying a finders' fee in cash to certain eligible parties on a portion of the offering.
• Previous Terms: Terms of the offering are otherwise unchanged from the announcement dated December 29, 2025.