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Honey Badger Silver Announces $1.25 Million Hard Dollar and Flow-Through Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - March 28, 2023) - Honey Badger Silver Inc. (TSXV: TUF) (" H...
About this update from Honey Badger Silver Inc.
[{"type":"text","content":"Honey Badger Silver Announces $1.25 Million Hard Dollar and Flow-Through Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - March 28, 2023) - Honey Badger Silver Inc. (TSXV: TUF) (\"Honey Badger\" or the \"Company\") is pleased to announce a non-brokered hard dollar and flow-though private placement for aggregate gross proceeds of $1,250,000 (the \"Offering\"). All dollar amounts are in Canadian funds. Hard Dollar OfferingThe hard dollar component of the Offering involves the sale of up to 6,700,000 units ( \"HD Units\") at a price of $0.15 per HD unit for gross proceeds of $1,000,000. Each HD Unit will consist of one common share of the Company and one half of a common share purchase warrant, with each whole warrant entitling the holder to acquire one common share of the Company at a price of $0.18 for a period of 36 months from the date of closing. The proceeds from the hard dollar offering will be used to finance closing obligations and exploration activities on the Company's Cachinal project in Chile and for general working capital purposes. Flow-Through OfferingThe flow-through component of the Offering involves the sale of 1,570,000 units ( \"FT Units\") at a price of $0.16 per FT unit for aggregate proceeds of $250,000. Each FT Unit will consist of one common share of the Company and one half of a common share purchase warrant, with each whole warrant having the same terms as the warrants sold in the hard dollar offering. The proceeds from the flow-through offering will be used to fund exploration programs on one or more of the Company's exploration properties located in Yukon, Quebec, and Nunavut that will qualify as \"Canadian Exploration Expenses\" and, once renounced, \"flow-through mining expenditures\", as those terms are defined in the Income Tax Act (Canada).Chad Williams, Non-Executive Chairman of Honey Badger, has advised the Company that he intends to subscribe for 3,333,334 HD units for total gross proceeds to the Company of $500,000. Additional insiders may also participate in the Offering. Insiders' participation in the Offering constitutes a \"related party transaction\" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is relying on the exemption from minority shareholder approval requirements under MI 61...