Business
Honey Badger Silver Announces Closing of First Tranche of Non-Brokered Private Placement Raising Gross Proceeds of Approximately $2.013 Million
Toronto, Ontario--(Newsfile Corp. - July 3, 2025) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: ...
About this update from Honey Badger Silver Inc.
[{"type":"text","content":"Honey Badger Silver Announces Closing of First Tranche of Non-Brokered Private Placement Raising Gross Proceeds of Approximately $2.013 MillionToronto, Ontario--(Newsfile Corp. - July 3, 2025) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) (\"Honey Badger\" or the \"Company\") is pleased to announce that it has closed the first tranche of the non-brokered private placement previously announced on June 17, 2025 (the \"First Tranche\"), raising aggregate gross proceeds of approximately $2.013 million through the issuance of 9,860,000 non-flow-through units (the \"NFT Units\") at a purchase price of $0.10 per NFT Unit (the \"FT Offering\") and 4,930,000 common shares of the Company that are intended to qualify as \"flow-through shares\" as defined in subsection 66(15) of the Income Tax Act (Canada) (\"FT Shares\") at a purchase price of $0.13 per FT Share (the \"Unit Offering, and together with the FT Offering, the Offering\"). Each NFT Unit consists of one non-flow-through common share of the Company (a \"Unit Share\") and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to acquire one common share of the Company for an exercise price of $0.15 until January 3, 2027, subject to customary anti-dilution adjustments.The Company will use the gross proceeds from the FT Offering to fund exploration programs to advance one or more of the Company's properties located in the Yukon, Northwest Territories, and Nunavut, and in particular to incur exploration expenses that qualify as \"Canadian exploration expenses\" as that term is defined in subsection 66.1(6) of the Income Tax Act (Canada) and as \"flow-through mining expenditures\" as that term is defined in subsection 127(9) of the Income Tax Act (Canada) provided that such definition is amended to extend the mineral exploration tax credit under the Income Tax Act (Canada) as announced by the Minister of Finance on March 3, 2025. Such expenses will be incurred on or before December 31, 2026, and renounced to the subscribers of FT Shares with an effective date no later than December 31, 2025. The Company intends to use the net proceeds from Unit Offering to fund programs to advance one or more of the Company's properties, the purchase of silver royalties and for general and administrative purposes. In connection with ...