Honey Badger Silver closes $1.5 million flow-through private placement

Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) completed a non-brokered private placement of flow-through common shares, raising $1.5 million in gross proceeds through the issuance of 4,838,710 shares at $0.31 per share.

The company will use the proceeds for exploration expenses that qualify as Canadian exploration expenses and flow-through critical mineral mining expenditures under Canada's Income Tax Act. These expenses must be incurred by December 31, 2026, and renounced to subscribers by December 31, 2025.

In connection with the offering, Honey Badger paid $90,000 in finder's fees and issued 290,322 non-transferable finder warrants. Each warrant allows the holder to purchase one common share at $0.35 per share for 18 months following the closing date.

The flow-through shares are subject to a four-month and one-day hold period under Canadian securities laws. The offering requires final approval from the TSX Venture Exchange.

Honey Badger Silver operates several projects in Canada's northern territories, including the Sunrise Lake project in the Northwest Territories and the Plata silver project in the Yukon Territory. The company also holds land at the Nanisivik Mine Area in Nunavut, which produced over 20 million ounces of silver between 1976 and 2002.

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