Business
Strategic Metals Ltd. Announces Acquisition of Securities of Honey Badger Silver Inc.
VANCOUVER, BC / ACCESSWIRE / June 8, 2021 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic" or...
About this update from Strategic Metals Ltd.
[{"type":"text","content":"Strategic Metals Ltd. Announces Acquisition of Securities of Honey Badger Silver Inc.VANCOUVER, BC / ACCESSWIRE / June 8, 2021 / Strategic Metals Ltd. (TSXV:SMD) (\"Strategic\" or \"the Company\") announces that it has acquired 34,804,718 common shares (the \"Acquired Shares\") of Honey Badger Silver Inc. (\"Honey Badger\") under an asset purchase agreement pursuant to which Honey Badger acquired a 100% interest in Strategic's Groundhog and Hy Properties, each situated in the Watson Lake Mining District, Yukon Territory, and Strategic's Plata property, situated in the Mayo Mining District, Yukon Territory, subject to Strategic retaining a 2% net smelter return royalty on all minerals, excluding silver, produced from these properties. The Acquires Shares were acquired at a deemed price of $0.13 per share, for total deemed consideration of $4,524,613.34.Immediately prior to its acquisition of the Acquired Shares, Strategic did not hold any shares of Honey Badger. Following the acquisition of the Acquired Shares, Strategic currently has ownership of and control over 34,804,718 common shares of Honey Badger, representing approximately 19.9% of Honey Badger's currently issued and outstanding common shares.Strategic has acquired the Acquired Shares for investment purposes. Depending on market conditions and other factors, Strategic may from time to time acquire an/or dispose of securities of Honey Badger or continue to hold its current position. A copy of the Early Warning Report to be filed by Strategic in connection with its acquisition of the Acquired Shares will be available on SEDAR at www.sedar.com and may be obtained from Strategic at the address set forth below:Strategic Metals Ltd.Suite 1016 - 510 West Hastings StreetVancouver, B.C. V6B 1L8This news release is being issued pursuant to National Instrument 62-103, which also requires that Strategic file the Early Warning Report with each of the British Columbia and Alberta Securities Commissions containing information with respect to its securityholdings in Honey Badger.About Strategic Metals Ltd.Strategic is a project generator with 11 royalty interests, 8 projects under option to others, and a portfolio of more than 100 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects ...