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Honey Badger Silver Closes Final Tranche of 1.25 Million Hard Dollar and Flow-Through Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - May 24, 2023) - Honey Badger Silver Inc. (TSXV: TUF) (" Hon...
About this update from Honey Badger Silver Inc.
[{"type":"text","content":"Honey Badger Silver Closes Final Tranche of 1.25 Million Hard Dollar and Flow-Through Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - May 24, 2023) - Honey Badger Silver Inc. (TSXV: TUF) (\"Honey Badger\" or the \"Company\") is pleased to announce the closing of the second and final tranche of its previously announced non-brokered hard dollar and flow-through private placement (the \"Offering\"). All dollar amounts are in Canadian funds. Hard Dollar OfferingThe hard dollar component of the Offering involved the sale of units (\"HD Units\") at a price of $0.15 per HD Unit. Each HD Unit consists 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 sale of the HD Units will be used to finance closing obligations and exploration activities on the Company's Cachinal project in Chile and for general working capital purposes. In the first tranche closing on April 11, 2023, the Company sold 5,256,668 HD Units for gross proceeds of $788,500. In the second tranche closing, the Company sold an additional 1,447,000 HD Units for additional gross proceeds of $217,050. The gross proceeds from the sale of the 6,703,668 HD Units in both closings totalled $1,005,550. Flow-Through OfferingThe flow-through component of the Offering involves the sale of units ( \"FT Units\") at a price of $0.16 per FT Unit. Each FT Unit consists 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 comprising the HD Units. The proceeds from the sale of the FT Units 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). In the first tranche closing on April 11, 2023, the Company sold 1,234,375 FT Units for gross proceeds of $197,500. In the second tranche closing, the Company sold an additional 365,000 FT Units for additional gross proceeds of $58,400. The proceeds from the sale of the 1,599,375 FT Uni...