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Honey Badger Silver Announces Full Exercise of Over-Allotment Option, Warrant Pricing for $11.5 Million Financing
Toronto, Ontario--(Newsfile Corp. - March 24, 2026) - Honey Badger Silver Inc. (TSXV: TUF) (...
About this update from Honey Badger Silver Inc.
[{"type":"text","content":"\nHoney Badger Silver Announces Full Exercise of Over-Allotment Option, Warrant Pricing for $11.5 Million FinancingToronto, Ontario--(Newsfile Corp. - March 24, 2026) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) (\"Honey Badger\" or the \"Company\") is pleased to announce that, further to its press release dated March 19, 2026 announcing a brokered private placement offering of subscription receipts (the \"Offering\"), SCP Resource Finance LP, as lead agent on behalf of a syndicate of agents (collectively, the \"Agents\") has fully exercised the Agents' option (the \"Agents Option\"), resulting in gross proceeds of up to approximately C$11.5 million, for a total of up to 71,875,000 subscription receipts of the Company (the \"Subscription Receipts\"), pursuant to the Offering.Each Subscription Receipt will be issued at a price of C$0.16 and will convert into one unit (a \"Unit\") of the Company upon satisfaction of the Escrow Release Conditions (as defined herein). Each Unit will consist of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to acquire one additional Common Share for a period of three years at an exercise price of C$0.24 per Common Share.The Company is also pleased to announce that the Company's management team, board of directors and its advisors are expected to purchase over 10% of the Offering, further demonstrating strong support for Honey Badger's strategy and proposed acquisition of the Prairie Creek Project (the \"PC Silver Project\" or the \"Project\").Proceeds to Advance Transformational Prairie Creek AcquisitionAs announced on March 19, 2026, Honey Badger entered into a definitive agreement dated March 13, 2026 to acquire all of the issued and outstanding shares of Canadian Zinc Corporation (\"CZC\"), 100% owner of the PC Silver Project from Resource Capital Fund VI L.P. (\"RCF\"), an arm's length party to the Company, for C$10 million in cash plus C$2 million in Honey Badger shares and warrants (the \"Acquisition\").The PC Silver Project is a permitted[1] underground silver-zinc-lead project, hosting a large, high-grade historical resource base with significant existing underground and development infrastructure, located in the Northwest Territories. The net proceeds of the Offering (includin...