Toronto, Ontario – July 3, 2025
Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF), a dynamic player in the precious metals sector, is stepping up its exploration and development efforts with the successful closing of the first tranche of its non-brokered private placement. This strategic financing round, initially announced on June 17, 2025, has brought in approximately $2.01 million.
The capital was raised through the issuance of 9,860,000 non-flow-through units (NFT Units) at $0.10 per unit and 4,930,000 common shares designated as “flow-through” (FT Shares) at $0.13 per share. This dual-pronged approach underscores Honey Badger’s commitment to both advancing its core projects and enhancing its drilling capabilities.
Each NFT Unit includes one common share and a half of a common share purchase warrant. These warrants are exercisable at $0.15 per share, affording holders the opportunity to increase their stake in the company until January 3, 2027, subject to standard anti-dilution provisions. The FT Shares are designed to facilitate crucial exploration expenditures that qualify for Canadian exploration tax credits, fueling the company’s targeted work in the Yukon, Northwest Territories, and Nunavut.
Proceeds from the FT Offering are earmarked for exploration programs on the company’s burgeoning portfolio of properties. Specifically, the funds will finance Canadian exploration expenses and flow-through mining expenditures, contingent on upcoming regulatory adjustments. These expenditures are slated to occur by December 31, 2026, with the associated tax benefits renounced to subscribers by the end of this year. The capital from the NFT Units will be deployed for property advancement, silver royalty acquisitions, and general corporate and administrative functions, demonstrating a well-rounded strategy for growth.
In conjunction with the closing, Honey Badger Silver also recognized the contributions of its finders, disbursing $9,345 in cash fees and issuing 93,450 non-transferable finder’s warrants. These warrants carry an exercise price of $0.15 per share and expire on January 3, 2027, also featuring anti-dilution protection.
All securities issued in this private placement are subject to a statutory four-month-and-a-day hold period. The company awaits final approval from the TSX Venture Exchange, with potential for additional tranches of the offering to close in the future.
Notably, prominent investor Eric Sprott participated in this financing round, investing $500,000 in NFT Units, signaling strong strategic backing.
A Note to U.S. Investors
This announcement is not an offer to sell or a solicitation of an offer to buy securities in the United States. The securities have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the U.S. to any person unless registered or exempt from registration.
About Honey Badger Silver Inc.
Honey Badger Silver Inc. is carving out its niche in the silver mining landscape, guided by a seasoned leadership team renowned for value creation and a robust technical team. The company’s strategic project locations boast a rich mining heritage. Key assets include the Sunrise Lake project in the Northwest Territories, presenting a historical resource of 12.8 million ounces of silver and 201.3 million pounds of zinc (Indicated), alongside 13.9 million ounces of silver and 247.8 million pounds of zinc (Inferred). The high-grade Plata project is situated east of Yukon’s prolific Keno Hill mining area and adjacent to Snowline Gold’s recent Rogue discovery. The Clear Lake Project in the Yukon Territory holds a historical resource estimate of 5.5 million ounces of silver and 1.3 billion pounds of zinc. Furthermore, Honey Badger Silver maintains a significant land position in the vicinity of the past-producing Nanisivik Mine in Nunavut, which yielded over 20 million ounces of silver between 1976 and 2002. It is important to note that historical resource estimates have not been verified by a qualified person and are not currently treated as current mineral resources. These figures are provided to indicate the potential scale of mineralization, with additional work required for verification.
(1) Sunrise Lake 2003 RPA historic resource estimate detailed grading: Indicated 1.522 million tonnes at 262 g/t silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 g/t gold. Inferred resource estimate detailed grading: 2.555 million tonnes at 169 g/t silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 g/t gold.
(2) Clear Lake 2010 SRK historic Resource estimate: Inferred 7.76 million tonnes grading 22 g/t silver, 7.6% zinc, and 1.08% lead.
(3) Reference sourced from Geological Survey of Canada, 2002-C22, detailing structural and stratigraphic controls on Zn-Pb-Ag mineralization at the Nanisivik Mississippi Valley type Deposit.
ON BEHALF OF THE BOARD
Chad Williams, Executive Chairman
For further details, please visit www.honeybadgersilver.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider assumes responsibility for the accuracy or completeness of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements based on current expectations, estimates, and projections as of the date of this release. These statements, often identified by phrases like “expects,” “anticipates,” “plans,” or “will,” may involve predictions, interpretations, or beliefs about the use of proceeds, future financing tranches, regulatory approvals, and the tax treatment of flow-through shares. Such statements are not guarantees of future performance and may be subject to known and unknown risks and uncertainties. These could cause actual results to differ materially from those expressed or implied in the forward-looking information. Factors such as variances in capital and operating costs, delays in obtaining project approvals, financing uncertainties, changes in equity markets, inflation, commodity price fluctuations, project development delays, and other risks inherent in mineral exploration and development are significant considerations. While the underlying assumptions are believed to be reasonable, undue reliance on this information, which applies only as of this date, is not advised. The Company disclaims any obligation to update or revise forward-looking statements, except as required by law.
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