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Honey Badger Silver Announces Closing of Upsized Non-Brokered Private Placement Financing
Toronto, Ontario--(Newsfile Corp. - July 23, 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 Upsized Non-Brokered Private Placement FinancingToronto, Ontario--(Newsfile Corp. - July 23, 2025) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) (\"Honey Badger\" or the \"Company\") is pleased to announce that it has closed the non-brokered private placement financing previously announced on July 17, 2025 (the \"Additional Financing\"). Due to strong investor demand, the Company upsized the Additional Financing, raising aggregate gross proceeds of $630,205.92 through the issuance of 5,729,145 units of the Company (the \"Additional Units\") at a purchase price of $0.11 per Additional Unit. Each Additional Unit consists of one common share of the Company and one half of one common share purchase warrant (each whole warrant, an \"Additional Warrant\"). Each Additional Warrant entitles the holder to acquire one common share of the Company (each, an \"Additional Warrant Share\") for an exercise price of $0.15 per Additional Warrant Share for a period of 18 months following the closing date of the Additional Financing, subject to customary anti-dilution adjustments.Combined with the $1.986 million raised in the first tranche of the Company's previously announced non-brokered private placement disclosed on June 17, 2025 (the \"Offering\"), and the $465,000 raised from the second tranche of the Offering, the Company has now raised approximately $3.081 million in total gross proceeds from the Offering and the Additional Financing.The Company intends to use the net proceeds from the Additional Financing 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 the closing of the Additional Financing, the Company paid aggregate cash finder's fees of $10,500 and issued 95,455 non-transferable finder's warrants to certain arm's length finders. Each finder's warrant is exercisable to acquire one common share in the capital of the Company at a price of C$0.15 per share until January 23, 2027, subject to customary anti-dilution adjustments.The securities issued in connection with the Additional Financing are subject to a four-month and a day hold period under Canadian securities laws. The Additional Financing is subject to receipt of the final approval of the TSX Venture Exchange. Caution ...