Honey Badger Announces Closing of Private Placement
NEWS RELEASE
Honey Badger Announces Closing of Private Placement
TORONTO, Dec. 14, 2017 -- Honey Badger Exploration Inc. (TSX-V:TUF) (“Honey Badger” or the “Company”) announces that it
completed on December 13, 2017 the previously announced non-brokered private placement financing for aggregate gross
proceeds of $303,250 (the “Financing”) through the sale of 4,033,334 flow-through units (the “FT Units”) and 1,088,889 non-flow
units (the “Non-FT Units”).
Each FT Unit was priced at $0.06 per FT Unit and consists of one “flow through” common share of the Company and one half
of one non-flow-through common share purchase warrant, with each such full warrant exercisable to acquire one common
share in the capital of the Company (each a “Common Share”) for a period of three years following the issuance thereof at a
price of $0.10 per Common Share.
Each Non-FT Unit was priced at $0.05625 per Non-FT Unit and consists of one Common Share of and one full share purchase
warrant, with each such warrant exercisable to acquire one Common Share for a period of three years following the issuance
thereof at a price of $0.075 per Common Share.
The gross proceeds from the sale of the FT Units totalling $242,000 will be used for “Canadian exploration
expenditures” (within the meaning of the Income Tax Act (Canada)) on the Company’s exploration properties. The net
proceeds from the Non-FT Units will be used for general working capital and other corporate purposes.
In connection with the Financing, Honey Badger paid finders fees in the form of cash compensation of $4,260 and issued
72,000 non-transferable compensation units, with each such compensation unit exercisable at a price of $0.05625 for a period
of 3 years following the issuance thereof to acquire one Common Share of the Company and one Non-FT Warrant. Each Non-
FT Warrant is exercisable to acquire one Common Share of the Company at a price of $0.075 for a period of 36 months
following the closing of the Financing.
The Financing is subject to the satisfactory completion and receipt of formal documentation, receipt of all necessary regulatory
approvals, including the approval of the TSX Venture Exchange (“TSXV”), and other customary conditions.
Any securities issued pursuant to the Financing will be subject to a restricted period of four months and one day from the date
of issuance.
About Honey Badger Exploration Inc.
Honey Badger Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada with
exploration properties in Ontario and Québec. The company's common shares trade on the TSX Venture Exchange under the
symbol "TUF".
Qualified Person
Quentin Yarie, PGeo. is the qualified person responsible for preparing, supervising and approving the scientific and technical
content of this news release and is responsible for overseeing all aspects of the company's exploration programs.
Contact Us
For more information about the Company visit www.honeybadgerexp.com or call:
• Quentin Yarie, President & CEO, (416) 364-7029, [email protected]
• Mia Boiridy, Investor Relations, (416) 364-7029, honeybadgerexp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by
terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or
“continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of
activity, performance or achievements to be materially different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements.
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. 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.