Honey Badger Silver Announces Closing of Upsized Non-Brokered Private Placement Financing
Honey Badger Silver Announces Closing of
Upsized Non-Brokered Private Placement
Financing
Toronto, Ontario--(Newsfile Corp. - July 23, 2025) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB:
HBEIF) ("
Honey Badger
" or the "
Company
") is pleased to announce that it has closed the
non-
brokered private placement financing previously announced on
July 17, 2025
(the "
Additional
Financing
"). Due to strong investor demand, the Company upsized the Additional Financing, raising
aggregate gross proceeds of
$630,205.92 through the issuance of 5,729,145 units of the Company (the
"
Additional Units
") at a purchase price of $0.11 per Additional Unit. Each Additional Unit consists of
one common share of the Company and one half of one common share purchase warrant (each whole
warrant, an "
Additional Warrant
"). Each Additional Warrant entitles the holder to acquire one common
share of the Company (each, an "
Additional Warrant Share
") for an exercise price of $0.15 per
Additional Warrant Share for a period of 18 months following the closing date of the Additional
Financing, subject to customary anti-dilution adjustments.
Combined with the
$1.986 million
raised in the first tranche of the Company's previously announced
non-brokered private placement disclosed on June 17, 2025 (the "
Offering
"), and the
$465,000
raised
from the second tranche of the Offering, the Company has now raised approximately
$3.081 million
in
total gross proceeds from the Offering and the Additional Financing.
The Company intends to use the net proceeds from the Additional Financing to fund programs to
advance one or more of the Company's properties, the purchase of silver royalties and for general and
administrative purposes.
In connection with the closing of the Additional Financing, the Company paid aggregate cash finder's
fees of $10,500 and issued 95,455 non-transferable finder's warrants to certain arm's length finders.
Each finder's warrant is exercisable to acquire one common share in the capital of the Company at a
price of C$0.15 per share until January 23, 2027, subject to customary anti-dilution adjustments.
The securities issued in connection with the Additional Financing are subject to a four-month and a day
hold period under Canadian securities laws. The Additional Financing is subject to receipt of the final
approval of the TSX Venture Exchange.
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, 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) including in respect of the use of proceeds
of the Additional Financing and the receipt of the final approval from the TSX Venture Exchange, 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 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/259910