Honey Badger Silver Inc. Provides Update on Potential Acquisition of the Cachinal Silver Deposit in Chile
Honey Badger Silver Inc. Provides Update on
Potential Acquisition of the Cachinal Silver
Deposit in Chile
Toronto, Ontario--(Newsfile Corp. - August 11, 2023) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB:
HBEIF) ("
Honey Badger
" or the "
Company
") provides an update with respect to the proposed
acquisition by the Company of the 100% interest in the Cachinal De La Sierra Silver-Gold Project (the
"
Cachinal Project
" or "
Cachinal
" and the acquisition of the Cachinal Project by the Company is
referred to as the "
Transaction
") from Aftermath Silver Ltd. ("
Aftermath
").
The execution by the parties
of a definitive agreement in respect of the proposed Transaction was announced by the Company on
February 15, 2023
.
The Transaction is a fundamental acquisition for the Company, as defined in the policies of the TSX
Venture Exchange (the "
TSXV
"), and completion of the proposed acquisition is subject to a number of
conditions, including receipt of TSXV approval. While the Transaction has not been completed on the
originally anticipated timeline, the parties are continuing to work together to close the proposed
Transaction.
However, there is no assurance that the proposed Transaction will be completed as
contemplated, or at all. The Company will provide further updates regarding the status of the Transaction
as required under the policies of the TSXV and otherwise as material information regarding the
proposed Transaction becomes available.
About Honey Badger Silver Inc.
Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario, that is focused on the
acquisition, development, and integration of accretive transactions of silver ounces. The company is led
by a highly experienced leadership team with a track record of value creation backed by a skilled
technical team. With significant land holdings in southeast and south-central Yukon, including the Plata
property 180 kms to the east of the Keno Hill silver district, as well as Ontario's historic Thunder Bay
Silver District, Honey Badger Silver is positioning to be a top-tier silver company.
ON BEHALF OF THE BOARD
Dorian L. (Dusty) Nicol, CEO
For more information, please visit our website
www.honeybadgersilver.com
or contact Ms. Michelle
Savella for Investor Relations |
| +1 (604) 828-5886
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. Forward-looking information in this news release
includes statements regarding the acquisition of the Cachinal Project and the terms by which it may
be completed. 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 that the conditions to completing the proposed
Transaction may not be met or waived; that the Transaction may be terminated in accordance with its
terms, regulatory risks; 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.sedar.com) 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/176999