Honey Badger Announces Closing of $2.25 Million Non-Brokered Private Placement

Core Viewpoint - Honey Badger Silver Inc. has successfully closed a non-brokered private placement, raising approximately $2.25 million through the issuance of units priced at $0.18 each, aimed at advancing its silver projects and for general working capital purposes [1][3]. Group 1: Offering Details - The private placement consisted of 12,499,998 units, each unit comprising one common share and one common share purchase warrant, with the warrant allowing the purchase of additional shares at $0.23 for 36 months [1][2]. - The company incurred finder's fees totaling $60,289.60 and issued 334,946 finder warrants, also exercisable at $0.23 for a period of 36 months [4]. Group 2: Insider Participation - Insiders subscribed for a total of 2,314,389 units, contributing $416,590 to the offering, which was less than previously reported due to high demand from other investors [5]. - The offering was exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as the value of insider subscriptions did not exceed 25% of the company's market capitalization [5]. Group 3: Use of Proceeds - The net proceeds from the offering will be utilized to advance the company's silver projects and for general working capital [3]. Group 4: Options Grant - On January 9, 2026, the company granted 2,000,000 options to acquire common shares to certain officers and employees, with an exercise price of $0.20 and a vesting schedule over five years [6]. Group 5: 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 5.5 million ounces of silver [8][9]. - The company also holds significant land in the Nanisivik Mine Area, which produced over 20 million ounces of silver from 1976 to 2002 [9].