Business
Honey Badger Announces Changes to Management and Private Placement Financing
Toronto, Ontario--(Newsfile Corp. - July 23, 2020) - Honey Badger Exploration Inc. (TSXV: TUF)...
About this update from Honey Badger Silver Inc.
[{"type":"text","content":"Honey Badger Announces Changes to Management and Private Placement FinancingToronto, Ontario--(Newsfile Corp. - July 23, 2020) - Honey Badger Exploration Inc. (TSXV: TUF) (the \"Company\") is pleased to announce certain changes to its management team. Quentin Yarie, Craig Scherba and Kevin Tanas have each resigned from the Board in order to focus on other activities. The Board has appointed Chad Williams and Rejean Gosselin to fill the vacancies resulting from such resignations. These gentlemen, along with incumbent director Chad Gilfillan, are expected to be among management's nominees at the annual general meeting of shareholders to be held on or about September 30, 2020.The Board wishes to thank Mr. Yarie, Mr. Scherba and Mr. Tanas for their service to the Company and wishes each of them well. Mr. Yarie has announced that he intends to step aside as President & CEO of the Company effective immediately to enable him to focus on his other business endeavours. The Board has appointed Chad Williams to succeed Mr. Yarie as interim CEO, effective immediately. Mr. Yarie will remain as a consultant for a transition period yet to be determined.The Company also announced that it intends to offer for sale, on a non-brokered private placement basis, securities of the Company (the \"Offering\") consisting of units (the \"Units\") at a price of $.04 per Unit, with each Unit comprised of one common share (a \"Share\") of the Company and one Share purchase warrant (a \"Warrant\") with each Warrant being exercisable to acquire one Share at a price of $0.05 per share for a period of 24 months following the closing date of the Offering, for aggregate gross proceeds to the Company of up to $500,000. There are currently 80,370,824 Shares outstanding. Assuming the maximum proceeds of the Offering are raised, the Company will issue 12,500,000 Shares and 12,500,000 Warrants pursuant to the Offering. The Offering is subject to the receipt of TSX Venture Exchange (\"TSXVE\") approval and all regulatory approvals. Insiders are expected to subscribe for greater than 25% of the number of Units sold in the Offering.The company is relying on the temporary relief measures announced by the TSXVE on April 8, 2020 (the \"Temporary Relief\") in offering the Units at a price that is less than $0.05 per unit. Pursuant to the Temporary Relief, the Issuer will ...