Honey Badger Silver Closes Transaction to Acquire 80% Interest and Control over additional Thunder Bay Silver Properties
TORONTO, July 26, 2021 (GLOBE NEWSWIRE) — Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce that it has closed the previously announced Definitive Agreement with Romios Gold Resources Inc. (“Romios Gold”) to acquire 80% interest and control over an additional 1,870 hectares (4,620 acres) in 87 mining claims covering historic silver properties in the Thunder Bay Silver District.
The new claims comprise substantial portions of the historic Victoria Mine and Federal Mine silver properties, plus the Lily of the Valley, Caribou and Cloud Bay prospects and solidifies Honey Badger Silver’s dominant position in this historic high-grade silver camp.
In consideration for the additional claims, Honey Badger Silver has issued 1,103,506 common shares to Romios Gold valued at $150,000. As well, Honey Badger Silver shall be granted a right of first refusal by Romios Gold on the 20% remaining interest. For further details, please refer to the Company’s press release dated June 10, 2021 on its website at www.honeybadgersilver.com.
Extension of Flow-Through Private Placement
The Company also announces that further to the closing of the first tranche of its non-brokered flow-through private placement (the “FT Offering”) announced on July 8, 2021, it has been granted an extension by the TSX Venture Exchange during which it plans to close the second and final tranche of the FT Offering at a price of $0.15 per FT share, for aggregate proceeds of $1.5 million. The gross proceeds from the Offering will be used to fund the Company’s exploration programs on the aforenoted Thunder Bay District of northern Ontario as well as the Plata and its other Yukon silver properties which qualify as flow-through shares for purposes of the Income Tax Act (Canada). The FT Offering is now expected to close on or before August 23, 2021. The Company plans to pay finder’s fees of up to 7% in cash and 7% in finder’s warrants in connection with the FT Offering. Further information is available by contacting Ms. Anne Mitchell of Grove Corporate Services Ltd. at anne@grovecorp.ca Tel: (416) 642-1807, ext 309.
For more information, please visit our website above, or contact: Ms. Christina Slater at cslater@honeybadgersilver.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Honey Badger Silver Inc.
Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario focused on the acquisition, development, and integration of accretive transactions of silver ounces. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. With a dominant land position in Ontario’s historic Thunder Bay Silver District and advanced projects in the southeast and south-central Yukon, Honey Badger Silver is positioning to be a top tier silver company. The Company’s common shares trade on the TSX Venture Exchange under the symbol “TUF”.
Cautionary Note Regarding Forward-Looking Information
This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required.
