Honey Badger Silver upsizes private placement to C$2.25 million

Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) increased its non-brokered private placement from C$1.5 million to C$2.25 million due to strong investor demand, according to a company statement.

The Toronto-based silver company will issue up to 12.5 million units at C$0.18 per unit. The offering is scheduled to close on or about January 16, 2026, subject to TSX Venture Exchange approval.

The company plans to use proceeds to advance its silver projects and for general working capital. All securities will be subject to a four-month plus one day statutory hold period under Canadian securities laws.

A company insider intends to subscribe for approximately 2.78 million units for gross proceeds of about $500,000, subject to regulatory approvals. This insider participation constitutes a related party transaction under Multilateral Instrument 61-101.

The company expects the insider participation will be exempt from formal valuation and minority shareholder approval requirements, as neither the fair market value of the units nor the consideration will exceed 25% of the company's market capitalization.

Honey Badger anticipates paying finder's fees in cash to certain eligible parties on a portion of the offering.

The company's projects include the Sunrise Lake project in the Northwest Territories, which has a historic resource of 12.8 million ounces of silver, and the Plata project in Yukon Territory. The company notes that a qualified person has not classified the historical resources as current mineral resources.

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