Honey Badger Announces Non-Brokered Private Placement of up to $1.5 Million

Core Viewpoint - Honey Badger Silver Inc. is planning a non-brokered private placement financing of $1.5 million through the issuance of up to 6,521,739 units at a price of $0.18 per unit, subject to regulatory approval [1][4]. Financing Details - Each unit will consist of one common share and one common share purchase warrant, with the warrant allowing the holder to acquire an additional common share at an exercise price of $0.23 for 36 months [2]. - The offering is expected to close on or about January 16, 2026, and is subject to the approval of the TSX Venture Exchange [1][4]. Executive Participation - Chad Williams, the Executive Chairman, intends to participate in the offering for up to $1 million of units, pending regulatory approvals [3]. Use of Proceeds - The net proceeds from the offering will be used to advance the company's silver projects and for general working capital [3]. Related Party Transaction - The subscription by Chad Williams constitutes a "related party transaction" under Multilateral Instrument 61-101, but the company is exempt from obtaining a formal valuation or minority shareholder approval as the transaction does not exceed 25% of the company's market capitalization [5]. Stock Options - The company plans to grant an aggregate of 2 million stock options at an exercise price of $0.21 per common share, subject to regulatory approval [6]. Company Overview - Honey Badger Silver is focused on silver mining, with projects in historically rich mining areas, including the Sunrise Lake project with a historic resource of 12.8 million ounces of silver and the Clear Lake project with an unclassified historic resource of 5.5 million ounces of silver [8][9][10].