Honey Badger Silver Announces Closing of First Tranche of Non-Brokered Private Placement
Honey Badger Silver has closed the first tranche of its non-brokered private placement, raising $715,500 through the issuance of 4,657,692 non-flow-through units at $0.13 per unit and 687,500 flow-through shares at $0.16 per share. Each non-flow-through unit includes one common share and one purchase warrant exercisable at $0.18 for 36 months.
The company will use flow-through proceeds to advance properties in Yukon, Northwest Territories, and Nunavut, while non-flow-through funds will support property development and general administrative purposes. The Company's Non-Executive Chairman, Chad Williams, participated by subscribing for 2,307,692 NFT Units.
Honey Badger Silver ha concluso la prima tranche del suo collocamento privato non intermediato, raccogliendo 715.500 dollari tramite l'emissione di 4.657.692 unità non flow-through a 0,13 dollari per unità e 687.500 azioni flow-through a 0,16 dollari per azione. Ogni unità non flow-through include una azione comune e un warrant d'acquisto esercitabile a 0,18 dollari per 36 mesi.
L'azienda utilizzerà i proventi delle azioni flow-through per sviluppare proprietà nello Yukon, nei Territori del Nord-Ovest e a Nunavut, mentre i fondi non flow-through sosterranno lo sviluppo delle proprietà e le spese amministrative generali. Il presidente non esecutivo della società, Chad Williams, ha partecipato sottoscrivendo 2.307.692 NFT Units.
Honey Badger Silver ha cerrado la primera tranche de su colocación privada no intermediada, recaudando 715,500 dólares mediante la emisión de 4,657,692 unidades no flow-through a 0.13 dólares por unidad y 687,500 acciones flow-through a 0.16 dólares por acción. Cada unidad no flow-through incluye una acción ordinaria y una opción de compra ejercitable a 0.18 dólares durante 36 meses.
La empresa utilizará los ingresos de las acciones flow-through para avanzar en propiedades en Yukon, Territorios del Noroeste y Nunavut, mientras que los fondos no flow-through respaldarán el desarrollo de propiedades y fines administrativos generales. El presidente no ejecutivo de la compañía, Chad Williams, participó suscribiendo 2,307,692 Unidades NFT.
허니 배저 실버가 중개인이 없는 사모 배치를 통해 715,500달러를 조달하며 첫 번째 분할 매각을 완료했습니다. 이는 0.13달러에 4,657,692개의 비유동성 단위와 0.16달러에 687,500개의 유동성 주식을 발행한 결과입니다. 각 비유동성 단위는 하나의 보통주와 36개월 동안 0.18달러에 행사 가능한 하나의 매수 선택권을 포함합니다.
회사는 유동성 자금을 유콘, 북서 지역 및 누나부트의 자산 개발에 사용하고, 비유동성 자금은 자산 개발과 일반 관리 목적으로 사용할 것입니다. 회사의 비상무 의장인 채드 윌리엄스는 2,307,692 NFT 단위에 대한 구독에 참여했습니다.
Honey Badger Silver a clôturé la première tranche de son placement privé sans intermédiaire, levant 715 500 $ grâce à l'émission de 4 657 692 unités non flow-through au prix de 0,13 $ par unité et de 687 500 actions flow-through au prix de 0,16 $ par action. Chaque unité non flow-through comprend une action ordinaire et un bon de souscription exerçable à 0,18 $ pendant 36 mois.
La société utilisera les produits des actions flow-through pour avancer sur des propriétés au Yukon, dans les Territoires du Nord-Ouest et au Nunavut, tandis que les fonds non flow-through soutiendront le développement des propriétés et les besoins administratifs généraux. Le président non exécutif de la société, Chad Williams, a participé en s'abonnant à 2 307 692 unités NFT.
Honey Badger Silver hat die erste Tranche seiner nicht-brokered Privatplatzierung abgeschlossen und $715,500 durch die Ausgabe von 4.657.692 non-flow-through Einheiten zu je 0,13 $ pro Einheit und 687.500 Flow-Through Aktien zu je 0,16 $ pro Aktie gesammelt. Jede non-flow-through Einheit umfasst eine Stammaktie und einen Kaufwarrant, der für 36 Monate zu 0,18 $ ausgeübt werden kann.
Das Unternehmen wird die Mittel aus den Flow-Through Aktien zur Weiterentwicklung von Immobilien im Yukon, in den Nordwest-Territorien und in Nunavut verwenden, während die non-flow-through Mittel die Entwicklung der Immobilien und allgemeine Verwaltungskosten unterstützen werden. Der nicht geschäftsführende Vorsitzende des Unternehmens, Chad Williams, hat durch den Erwerb von 2.307.692 NFT Units teilgenommen.
- Successful closing of first tranche raising $715,500 in new capital
- Strategic investment from company chairman demonstrates insider confidence
- 36-month warrants provide potential for additional future capital at $0.18 per share
- Dilution of existing shareholders through new share issuance
- Additional tranches pending could lead to further dilution
Not for distribution to U.S. news wire services or dissemination in the United States
WHITE ROCK, BC / ACCESSWIRE / December 16, 2024 / Honey Badger Silver Inc. (TSXV:TUF) ("Honey Badger" or the "Company") is pleased to announce that is has closed the first tranche of the non-brokered private placement previously announced on November 21, 2024 (the "Offering"), through the issuance of 4,657,692 non-flow-through units (the "NFT Units") at a purchase price of
As previously described, the Company anticipates that, upon the closing of additional tranches, the Offering will consist of a combination of NFT Units at the NFT Offering Price, and FT Shares at the FT Offering Price.
Each NFT Unit will consist of one non-flow-through common share of the Company and one non-flow-through common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the Company for an exercise price of
Each FT Share will consist of one flow-through common share of the Company.
The Company will use the proceeds of the sale of FT Shares in the Offering to fund programs to advance one or more of the Company's properties located in the Yukon, Northwest Territories, and Nunavut that will qualify, once renounced, as "flow-through mining expenditures", as that term is defined in the Income Tax Act (Canada). The Company intends to use the net proceeds of the sale of the NFT Units to fund programs to advance one or more of the Company's properties and for general and administrative purposes.
In connection with the First Tranche, the Company paid aggregate cash finder's fees of
The securities issued in connection with the Offering will be subject to a four-month and a day hold period. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange. Additional finder's fees may be payable in connection with the Offering.
Insider Participation
Chad Williams, Non-Executive Chairman and Director of the Company participated in the First Tranche of the Offering by subscribing for 2,307,692 NFT Units, which 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 exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of Mr. Williams in the Offering in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed
Caution to US Investors
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Honey Badger Silver Inc.
Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The Company's Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 (2,3). A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.
(1) Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver,
(2) Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver,
(3) Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis."
ON BEHALF OF THE BOARD
Dorian L. (Dusty) Nicol, CEO
For more information please visit our website www.honeybadgersilver.com or contact Mrs. Sonya Pekar for Investor Relations | spekar@honeybadgersilver.com | +1 (647) 498-8244.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Such factors include, but are not limited to, risks relating to the anticipated completion of the Offering, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Honey Badger Silver Inc.
View the original press release on accesswire.com
FAQ
How much did Honey Badger Silver (HBEIF) raise in its first tranche private placement?
What are the terms of the warrants in Honey Badger's December 2024 private placement?
How will Honey Badger Silver use the proceeds from its 2024 private placement?
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