Honey Badger Announces Closing of $2.25 Million Non-Brokered Private Placement
Honey Badger Announces Closing of $2.25
Million Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - January 19, 2026) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB:
HBEIF) ("
Honey Badger
" or the "
Company
") is pleased to announce that further to its news releases
dated December 29, 2025 and December 31, 2025, it has closed its non-brokered private placement
(the "
Offering
") of units of the Company (the "
Units
") for aggregate gross proceeds of $2,249,999.64
million through the issuance of 12,499,998 Units at a price of $0.18 per Unit.
Each Unit consists of one common share of the Company (each, a "
Unit Share
") and one common
share purchase warrant (each, a "
Unit Warrant
"). Each Unit Warrant entitles the holder to acquire one
common share of the Company (each, a "
Warrant Share
") at an exercise price of $0.23 per Warrant
Share for a period of 36 months from the closing date of the Offering, subject to customary anti-dilution
adjustments.
The Company intends to use the net proceeds of the Offering to advance the Company's silver projects
and for general working capital purposes.
Completion of the Offering remains subject to the receipt of final approval of the TSX Venture Exchange
(the "
TSXV
"). All securities issued pursuant to the Offering will be subject to a four-month plus one day
statutory hold period in accordance with applicable Canadian securities laws.
In connection with the Offering, the Company paid an aggregate of $
60,289.60
in finder's fees and
issued
334,946
non-transferrable finder warrants to eligible finders (each, a "
Finder's Warrant
"). Each
Finder's Warrant entitles the holder to acquire one common share of the Company (each, a "
Finder's
Warrant Share
") at a price of $0.23 per Finder's Warrant Share, subject to customary anti-dilution
adjustments, for a period of 36 months following the closing date of the Offering.
Mr. Eric Sprott participated pro-rata to his existing ownership. Certain "insiders" of the Company
subscribed for an aggregate of 2,314,389 Units in the Offering for aggregate gross proceeds to the
Company of $416,590. This amount is lower than stated in previous press releases because insiders
accommodated high demand from others. Each subscription by an "insider" of the Company is
considered a "related party transaction" for purposes of Multilateral Instrument 61-101 -
Protection of
Minority Security Holders in Special Transactions
("
MI 61-101
") and Section 5.9 -
Protection of
Minority Securityholders in Special Transactions
of the Corporate Finance Manual of the TSXV. The
Company was exempt from requirements to obtain a formal valuation and minority shareholder approval
in connection with the Offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as
neither the fair market value of the Units subscribed for by the "insiders", nor the consideration for the
Units to be paid by "insiders", exceeded 25% of the Company's market capitalization as calculated in
accordance with MI 61-101.
Grant of Options
The Company also announces that on January 9, 2026, it granted an aggregate of 2,000,000 options to
acquire common shares of the Company (the "
Options
") to certain officers, employees and/or
consultants of the Company. The Options have an exercise price of $0.20 per common share of the
Company, have a 5-year term from the date of grant and vest in equal halves on the date of grant and on
the date that is six months from the date of grant.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities described herein 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 unless registered
under the U.S. Securities Act and applicable state securities laws unless an exemption from such
registration is available.
About Honey Badger Silver Inc.
Honey Badger Silver is a unique 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) 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). 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 (3). We own
10,000 ozs of silver yielding 12% per annum. 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, 6.0% zinc, 2.4% lead, 0.08% copper,
and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51
grams/tonne gold.
(2) Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
(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
Chad Williams, Executive Chairman
Sonya Pekar
Investor Relations
| +1 (647) 498-8244
For more information, please visit our website
www.honeybadgersilver.com
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. Forward-
looking information in this news release includes, but is not limited to, statements regarding the use of
proceeds of the Offering and the Company's ability to obtain the final approval of the TSXV. 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 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/280809