Honey Badger Silver Inc. announced a private placement of 6,700,000 units at a price of CAD 0.15 per HD unit for gross proceeds of CAD 1,005,000 as well as 1,570,000 flow-through units at a price of CAD 0.16 per unit for gross proceeds of CAD 251,200 for total proceeds of CAD 1,256,200 on March 28, 2023. Each HD Unit will consist of one common share of the company and one half of a common share purchase warrant, with each whole warrant entitling the holder to acquire one common share of the company at a price of CAD 0.18 for a period of 36
months from the date of closing. Each FT unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant entitling the holder to acquire one common share at a price of CAD 0.18 for a period of 36 months from the date of closing. The transaction may include participation from Chad Williams, Non-Executive Chairman of the company, for 3,333,334 HD units for CAD 500,000 and insiders. The closing of the transaction is expected to occur on or before April 12, 2023 and is subject to the completion of formal documentation and receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange. The common shares, warrants and any common shares issued on the exercise of warrants sold in the transaction will be subject to a four month hold period from the closing of the transaction under applicable Canadian securities laws. The company may pay finder's fees to arm's length finders in connection with the transaction.