Honey Badger Silver closes $2.25 million private placement

Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) completed a non-brokered private placement raising $2,249,999.64 through the issuance of 12,499,998 units at $0.18 per unit, according to a company statement.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional shares at $0.23 each for 36 months from the closing date.

The company plans to use proceeds to advance its silver projects and for general working capital. The offering requires final approval from the TSX Venture Exchange, and all securities are subject to a four-month statutory hold period under Canadian securities laws.

In connection with the placement, Honey Badger paid $60,289.60 in finder's fees and issued 334,946 non-transferable finder warrants. These warrants carry the same $0.23 exercise price and 36-month term as the unit warrants.

Eric Sprott participated proportionally to his existing ownership. Company insiders subscribed for 2,314,389 units totaling $416,590 in gross proceeds. This amount was lower than previously announced as insiders reduced their participation to accommodate other investors.

Separately, on January 9, 2026, the company granted 2 million stock options to officers, employees and consultants. The options have an exercise price of $0.20 per share, a five-year term, and vest in equal portions at grant and six months later.

Honey Badger Silver focuses on silver exploration projects in Canada's Northwest Territories, Yukon Territory and Nunavut. The company's projects include Sunrise Lake, Plata, Clear Lake and holdings at the former Nanisivik Mine Area.

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