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 per share for 36 months from the closing date.

The company plans to use proceeds to advance its silver projects and for general working capital purposes. The offering remains subject to final approval from the TSX Venture Exchange.

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 in the offering proportional to his existing ownership. Company insiders purchased 2,314,389 units for $416,590, representing a related party transaction under regulatory guidelines. The insider participation was lower than previously announced due to accommodation of external demand.

Separately, on January 9, 2026, the company granted 2,000,000 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.

All securities issued are subject to a four-month plus one day hold period under Canadian securities laws. The company operates silver projects in the Northwest Territories, Yukon Territory, and Nunavut.

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