Honey Badger Announces Non-Brokered Private Placement of up to $1.5 Million
Honey Badger Announces Non-Brokered
Private Placement of up to $1.5 Million
Toronto, Ontario--(Newsfile Corp. - December 29, 2025) - Honey Badger Silver Inc. (TSXV: TUF)
(OTCQB: HBEIF) ("
Honey Badger
" or the "
Company
") is pleased to announce that it intends to
complete a non-brokered private placement financing of $1.5 million (the "
Offerin
g") through the
issuance of up to 6,521,739 units (the "
Units
") at a price of $0.18 per Unit. The price of the Offering is
subject to regulatory approval. The Offering is expected to close on or about January 16, 2026.
All dollar
amounts in this news release are in Canadian dollars.
Each Unit will consist of one common share of the Company (a "
Share
") and one common share
purchase warrant (a "
Warrant
"). Each Warrant will entitle the holder to acquire one additional common
share of the Company (a "Warrant Share") at an exercise price of $0.23 per Warrant Share for a period
of 36 months from the date of issuance, subject to customary anti-dilution adjustments.
Chad Williams, Executive Chairman of the Company, has indicated that he intends to participate in the
Offering for up to $1 million of Units, subject to receipt of all required regulatory approvals.
The Company intends to use the net proceeds of the Offering to advance the Company's silver projects
and for general working capital.
Completion of the Offering remains subject to the approval of the TSX Venture Exchange. All securities
issued in connection with the Offering will be subject to a four-month statutory hold period in accordance
with applicable Canadian securities laws. The Company anticipates paying a finders' fee, payable in
cash to certain eligible parties on a portion of the placement.
The subscription for Units by Chad Williams, the Executive Chairman of the Company, constitutes a
"related party transaction" for the purposes of 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 or minority shareholder approval in connection with such subscription by
Chad Williams in reliance on sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair
market value of the securities issued to Chad Williams nor the fair market value of the consideration for
the securities issued to Chad Williams exceeds 25% of the Company's market capitalization as
calculated in accordance with MI 61-101.
The Company also announces that it intends to grant an aggregate of 2 million stock options at an
exercise price of $0.21 per common share, subject to regulatory approval.
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 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 at a grade of 262 g/t silver (and 201.3 million pounds of zinc at a grade of 6% zinc)
Indicated and 13.9 Moz of silver at a grade of 169 g/t silver (and 247.8 million pounds of zinc at a grade
of 4.4% 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 an unclassified historic resource of 5.5 Moz of
silver at a grade of 22 g/t silver and 1.3 billion pounds of zinc at a grade of 7.6% 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."
2)
Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes
grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
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, the timing and ability to complete the Offering on the proposed terms; the
Company's ability to obtain the conditional approval of the TSX Venture Exchange; and the
significance of historical mineral resources.
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.
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DISSEMINATION IN THE UNITED STATES
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