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April 11, 2023

Toronto, Ontario, April 11, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) is pleased to announce the closing of an initial tranche of its previously announced non-brokered hard dollar and flow-through private placement (the “Offering“). All dollar amounts are in Canadian funds.

Hard Dollar Offering

The hard dollar component of the Offering involves the sale of up to 6,700,000 units ( “HD Units”) at a price of $0.15 per HD Unit for gross proceeds of $1,000,000. Each HD Unit consists 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 $0.18 for a period of 36 months from the date of closing. The proceeds from the hard dollar offering will be used to finance closing obligations and exploration activities on the Company’s Cachinal project in Chile and for general working capital purposes. The Company has closed an initial tranche of 5,256,668 HD Units for aggregate proceeds of $788,500.

Chad Williams, Non-Executive Chairman of Honey Badger, acquired 3,333,334 HD Units in the first tranche closing for total gross proceeds to the Company of $500,000. His participation in the Offering is a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company is relying on the exemption from minority shareholder approval requirements under MI 61-101, as the fair market value of Mr. Williams’ participation in the Offering does not exceed 25% of the market capitalization of the Company.

Flow-Through Offering

The flow-through component of the Offering involves the sale of 1,570,000 units ( “FT Units“) at a price of $0.16 per FT unit for aggregate proceeds of $250,000. Each FT Unit consists of one common share of the Company and one half of a common share purchase warrant, with each whole warrant having the same terms as the warrants sold in the hard dollar offering. The proceeds from the flow- through offering will be used to fund exploration programs on one or more of the Company’s exploration properties located in Yukon, Quebec, and Nunavut that will qualify as “Canadian Exploration Expenses” and, once renounced, “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada). The Company has closed an initial tranche of 1,234,375 FT Units for aggregate proceeds of $197,500.

All securities issued pursuant to the Offering are subject to a four-month statutory hold period under Canadian securities laws. The Company will issue a further news release on closing of the second tranche of the Offering, which is expected to occur before the end of April.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian silver company based in Toronto, Ontario, that is 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 significant land holdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district, as well as Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

George Davis, President & CEO

Investors that are interested in further information on the Offering may also do so through the Sharechest Connector on our website at www.honeybadgersilver.com, which is an innovative solution to streamline and simplify communications with potential investors.

For more information, contact Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | (604) 828-5886

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking information in this news release includes statements regarding: the structure and anticipated benefits of completing the acquisition of the Cachinal Project (including historical resource estimate and possible positive effects on cash-flow); and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.


Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Honey Badger’s issuer profile. 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, and no assurance can be given that such events will occur in the disclosed timeframes or at all. 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 by law.


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March 28, 2023

Toronto, Ontario, March 28, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) is pleased to announce a non-brokered hard dollar and flow-though private placement for aggregate gross proceeds of $1,250,000(the “Offering”).  All dollar amounts are in Canadian funds.

Hard Dollar Offering

The hard dollar component of the Offering involves the sale of up to 6,700,000 units( “HDUnits”) at a price of $0.15 per HD unit for gross proceeds of $1,000,000.  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 $0.18 for a period of 36 months from the date of closing.   The proceeds from the hard dollar offering will be used to finance closing obligations and explorationactivities on the Company’s Cachinal projectin Chile and for general working capital purposes.

Flow-Through Offering

The flow-through component of the Offering involves the sale of 1,570,000 units( “FT Units”)at a price of $0.16 per FT unit for aggregate proceeds of $250,000.  Each FT Unit will consist of one common share of the Company and one half of a common share purchase warrant, with each whole warrant having the same terms as the warrants sold in the hard dollar offering. The proceeds fromthe flow-through offering will be used to fund exploration programs on one or more of the Company’s exploration properties located in Yukon, Quebec, and Nunavut that will qualify as “Canadian Exploration Expenses”and, once renounced,“flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada).

Chad Williams, Non-Executive Chairman of Honey Badger, has advised the Company that he intends to subscribe for 3,333,334HD units for total gross proceeds to the Company of $500,000.  Additional insiders may also participate in the Offering.  Insiders’ participation in the Offering constitutes a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from minority shareholder approval requirements under MI 61-101, as the fair market value of the insiders’ participation in the Offering does not exceed 25% of the market capitalization of the Company.

The closing of the Offering is expected to occur on or before April 12, 2023 (the “Closing Date”) 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 Offering will be subject to a four month hold period from the closing of the Offering under applicable Canadian securities laws.   Finder’s fees may be payable to arm’s length finders in connection with the Offering.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario, that is 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 significant landholdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district, as well as Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

Chad Williams, Director and Non-Executive Chairman

For more information, please visit our website www.honeybadgersilver.com, or contact
Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | (604) 828-5886

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

 

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking information in this news release includes statements regarding: the structure and anticipated benefits of completing the acquisition of the Cachinal Project (including historical resource estimate and possible positive effects on cash-flow); and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.


Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Honey Badger’s issuer profile. 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, and no assurance can be given that such events will occur in the disclosed timeframes or at all. 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 by law.


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March 23, 2023

Toronto, Ontario, March 23, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) is pleased to report on exploration results from its road accessible, 100%-owned Groundhog Project (“Groundhog”) in south-central Yukon.  The Project is located 50 km south of Ross River (Figure 1) and approximately 25 km west of the former Ketza Mine, which produced over 57,500 ounces of gold and 33,400 ounces of silver1 from replacement-style manto deposits within a geologic region known as the Ketza Uplift.  Groundhog hosts numerous mineralized showings with manto-hosted and fracture-hosted silver-lead-zinc mineralization.  Historical grades range up to 18,120 g/t silver, 85% lead, 23.6% zinc and 5.91 g/t gold, within the Seagull Uplift, a structural environment similar to, and tectonically linked to, the Ketza Uplift.

Dorian L. (Dusty) Nicol, Chief Operating Officer states, “Honey Badger would like to thank the Yukon Government for the Yukon Mineral Exploration Program grant it received to help fund our 2022 program.  We are particularly encouraged by the recognition of manto-style replacement at Groundhog, which has not been the focus of prior work on the project.  This suggests similarities to the Ketza Mine — which I am very familiar with — and the positive overall results from the 2022 program will be the focus of follow-up work on the project.”

Highlights from the 2022 program include:

  • 2,410 g/t silver, 7.8% copper, 0.27% lead and 0.75% zinc over 0.3 m (Cirque Showing).
  • 2,430 g/t silver, 0.71% copper, 21.3% lead and 6.3% zinc over 0.3 m (Cirque Showing).
  • 2,120 g/t silver, 78.6% lead, 0.45% zinc (grab from Foggy Showing).
  • 755 g/t silver, 29.2% lead, 24.7% zinc (grab from Foggy Showing); and,
  • 234 g/t silver, 11.7% lead and 3.2% zinc (grab from Rob #1 Showing).


Groundhog Program Overview:

The 2022 program included the collection of 49 rock samples and 488 soil samples. Figure 2 illustrates anomalous silver rock geochemistry, while Figures 3, 4 and 5 illustrate lead-, silver-, and gold-in-soil geochemistry.

Three main types of mineralization have been discovered on the Groundhog property: veins and breccia zones, replacement (manto) mineralization, and stratiform mineralization, as described below.

High-grade, silver-lead-zinc mineralization is hosted in veins and breccia zones that are associated with northwest-trending, steeply dipping structures, found within the Lucky and Sheep trends, and east- to northeast-trending shear zones that cut obliquely across primary structures.  Mapping in 2022 showed that gold mineralization is largely constrained to northeast-trending structures.  Dilatant zones filled by veins are found along these structural features with localized brecciation suggesting motion continued along the structures during mineralization.

Replacement mineralization is locally developed where structures hosting vein and breccia zones cut carbonate host rock.  Minimaleffort was made by previous operators to assess the potential for this type of mineralization; however, prospecting has identified mineralization that resembles replacement style zones and mantos (JW and Aztek Showings).

Stratiform mineralization occurs as finely banded galena, sphalerite and chalcopyrite hosted within phyllites and tuffs in the western part of the property.  The stratiform mineralization is found within the upper plate of the Pass Peak Thrust Fault at two separate showings (Strat and Geo), located on opposite sides of a valley approximately 1,500 m apart.

Soil sampling on the property in 2022 greatly expanded the area previously covered by soil geochemistry and returned several significant, coincident, silver-lead-zinc±gold anomalies, some of which cluster on known showings, while others highlight areas for future work.

Table III- Anomalous Threshold Values for Soil Samples

 

Element Weak Moderate Strong Peak
Silver (ppm) >2 ≤5 >5 ≤10 >10 72.2
Lead (ppm) >100 ≤200 >200 ≤500 >500 34,200
Zinc (ppm) >200 ≤500 >500 ≤1000 >1000 13,900
Gold (ppb) >20 ≤50 >50 ≤100 >100 327

 

Rock sample preparation and multi-element analyses were carried out at ALS in Whitehorse, Yukon and North Vancouver, BC, respectively. Each sample was dried, fine crushed to better than 70% passing 2 mm and then a 250 g split was pulverized to better than 85% passing 75 microns. The fine fractions were analyzed for gold by fire assay fusion and inductively coupled plasma-atomic emission spectrometry (Au-ICP21) and for 35 other elements using aqua regia digestion followed by inductively coupled plasma-atomic emission spectrometry (ME-ICP41). Overlimit values were determined for silver, copper, lead and zinc by four acid digestion and inductively coupled plasma-atomic emission spectroscopy (Ag-, Cu-, Pb-, Zn-OG62).  Samples that exceeded detection limits using Ag-OG62 were analyzed using fire assay and gravimetric finish techniques (Ag-GRA21).  A titration method was applied when lead exceeded 20% (Pb-VOL70).  Soil samples were prepared as described above and analyzed using Au-ICP21 and ME-ICP41.

Technical information in this news release has been approved by Kelson Willms, P.Geo., a senior geologist with Archer, Cathro& Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.

Reference:
1https://data.geology.gov.yk.ca/Occurrence/13066#InfoTab

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 significant land holdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district, as well as Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

Chad Williams, Director, and Non-Executive Chair

For more information, please visit our websitewww.honeybadgersilver.com, or contact
Ms. Michelle Savella for Investor Relations |msavella@honeybadgersilver.com| (604) 828-5886

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the closing of the Offering (if at all); the demand for Units (if any); the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

 

Such factors include, but are not limited to, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Honey Badger Silver’s issuer profile. 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, and no assurance can be given that such events will occur in the disclosed timeframes or at all. 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 by law.

 


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March 20, 2023

Toronto, Ontario, March 20, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) is pleased to announce the appointment of Mr. George Davis as the Company’s President and Chief Executive Officer (CEO), effective April 1, 2023. Mr. Davis replaces the Company’s Interim CEO, Brian Briggs, who will be remaining with Honey Badger as a Director.

Chad Williams, Non-executive Chairman stated, “I want to thank Brian for his commitment and many contributions to the Company as Interim CEO. I would also like to welcome George Davis as our new President and CEO. He brings a proven track record of value creation and deep experience in the areas offinance, operations, strategy, and capital markets that will be of great benefit to our Company. This appointment further strengthens the management team at Honey Badger as we embark on the next phase of our growth plans.”

George Davis, President, and CEO stated, “I am looking forward to the opportunity to lead this organization. The Board of Directors and I are aligned on the strategic vision for the Company as we aim to be the premier name in the silver sector and generate significant long-term shareholder value with an exciting portfolio of projects. I also want to thank Brian for his support during this transitionary period and look forward to his ongoing contributions as a Director.”

Mr. Davis has over 20 years of financial and leadership experience having worked with publicly listed international companies in a variety of sectors including mining, energy, and infrastructure. He started his career at PricewaterhouseCoopers LLP in the audit and assurance group before holding progressively senior executive roles supporting finance, internal controls, treasury, investor relations and capital market teams for a variety of companies engaged in mining and oil & gas operations throughout Latin America and West Africa. Most recently, he was responsible for developing the financial policy, risk and reporting strategy at the Canadian Pension Plan Investment Board (CPP Investments), a professional investment management organization with over $536 billion in net assets. Mr. Davis is a Chartered Professional Accountant (Ontario), Chartered Financial Analyst, and holds a Bachelor of Commerce degree from the University of Toronto.

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 significant land holdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district, as well as Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

Chad Williams, Director, and Non-Executive Chair

For more information, please visit our websitewww.honeybadgersilver.com, or contact
Ms. Michelle Savella for Investor Relations |msavella@honeybadgersilver.com| (604) 828-5886

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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February 15, 2023

Toronto, Ontario, February 15, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) is pleased to announce the signing of a definitive agreement dated February 14, 2023 (on the amended terms previously announced by the Company in its news release dated January 11, 2023), in respect to the acquisition by the Company of the100% interest in the Cachinal De La Sierra Silver-Gold Project (the “Cachinal Project” or “Cachinal”) from Aftermath Silver Ltd. (“Aftermath”).  Cachinalis in northern Chile, in the mineral-rich Antofagasta region (Region II).

Brian Briggs, Interim CEO of Honey Badger stated, “The acquisition of Cachinal will be a valuable addition to our expanding portfolio of silver assets, offering a significant silver resource as well as exciting exploration potential and the possibility of near-term cash flow.  A presence in this mineral-rich and mining-friendly jurisdiction is expected to lead to further value-accretive opportunities for our shareholders.”

Rationale for Transaction:

The proposed acquisition of Cachinal by Honey Badger is expected to create significant shareholder value and deliver multiple benefits for Honey Badger shareholders:

  • Aftermath has reported a resource estimate of 16.32 million ounces of silver in Indicated Resource(at 101 g/t silver for 5.05 million ounces of silver) and 2.48 million ounces of silver in Inferred Resource (at 145 g/t silver for 0.53 million ounces of silver). See below under the heading “Notes Regarding NI 43-101” for further details.
  • There is the potential to generate near-term cash flow by providing ore to feed possible excess mill capacity at the nearby Guanaco gold-silver mine complex, 16 kilometers by road to the south of Cachinal.

The Cachinal acquisition marks an important milestone for Honey Badger, complementing its portfolio of high-grade, district-scale silver properties in the Yukon, as well as providing the opportunity for short-term cash flow and gaining the company a toehold in a mineral-rich region where there may be opportunities to unlock synergies with other industry players.

Transaction Terms:

  • Consideration: The consideration payable to Aftermath for the acquisition by Honey Badger of the Cachinal Project will be comprised of the following: (a) an aggregate of 3,508,771 common shares of Honey Badger (“Honey Badger Shares”), at a deemed price per share of $0.285 (being C$1,000,000 in share consideration); (b) C$652,000 in cash payable at closing; and (c) additional cash payments as described below.
  • Subsequent Payments: The additional cash payments will be made in three subsequent payments, as follows:
    • C$200,000 on or before by May 31st, 2023
    • C$400,000 on or before March 31st, 2024
    • C$400,000 on or before September 30th, 2024

The additional cash payments will be evidenced by a promissory note issued at closing (the “Promissory Note”), and the obligations thereunder will be secured by a pledge over the shares of the Chilean entity which holds the Cachinal Project. The Promissory Note will provide Honey Badger with the option, subject to regulatory approval (including the approval of the TSX Venture Exchange), to satisfy payments by issuing additional Honey Badger Shares at a deemed price per share equal to the greater of: (a) the 30 trading-day volume weighted average price of the Honey Badger Shares on the TSXV (the “VWAP”); or (b) the maximum permitted discount permitted under the policies of the TSXV; provided that the Company will not be able to issue Honey Badger Shares in satisfaction of amounts owing if its 30 trading-day VWAP is less than C$0.05).

  • Hold Period: In addition to any hold periods imposed by applicable securities laws, the Honey Badger Shares to be issued to Aftermath (including any additional Honey Badger Shares issued in satisfaction of amounts owing under the Promissory Note) will be subject to the following restrictions on transfer, subject to customary exceptions (the “Holding Period”): (i) 50% of the shares issued will be subject to transfer restrictions expiring six months and one day from the date of issuance, and (ii) the remaining 50% of the shares issued will be subject to transfer restrictions expiring on the one-year anniversary of the date of issuance. The foregoing restrictions will be set out in a lock-up agreement that the parties will enter into as part of closing, which will also include customary covenants regarding voting support and standstill during the lock-up period as well as limitations on dispositions following the expiry of the lock-up period.
  • 1% NSR and Production Payments Royalty: In connection with the acquisition of the Cachinal Project, Honey Badger has agreed to grant Aftermath with a 1% net smelter returns royalty (with a complete buy-back option in favour of Honey Badger for C$8,500,000) as well as a production payments royalty upon commencement of commercial production at Cachinal, (payable, in cash or shares at Aftermath’s option (but subject to required regulatory approvals in respect of share payments), of C$0.50 per payable silver ounce produced at the Cachinal Project, until an aggregate of C$2,500,000 has been paid, at which point the production payments royalty will terminate.

Closing of the acquisition of the Cachinal Project remains subject to customary closing conditions for transactions of this nature, including approval by the TSX Venture Exchange.

Notes Regarding NI 43-101:

  • For complete details on the Cachinal Mineral Resource estimate, please refer to the NI 43-101 technical report made pursuant to National Instrument 43-101 (“NI 43-101”) and entitled “Independent Technical Report for the Cachinal Silver-Gold Project, Region II, Chile”, by Qualified Persons G. Cole, (P.Geo) of SRK Consulting (Canada) Inc. and S. Alvarado Casas, of Geoinvest SAC E.I.R.L. (Chile), dated September 11, 2020 with an effective date of August 10, 2020, filed on the SEDAR profile of Aftermath Silver Ltd. at sedar.com (the “Cachinal Technical Report”).
  • Dorian L. (Dusty) Nicol, RG, CG, FAusIMM, the Chief Operating Officer of the Company and a “Qualified Person” as defined in NI 43-101, has reviewed the Cachinal Technical Report on behalf of the Company and has approved the technical disclosure contained in this news release. To the best of the Company’s knowledge, information and belief, there is no new material scientific or technical information that would make the disclosure of the mineral resources, mineral reserves or results of a preliminary economic assessment in the Cachinal Technical Report inaccurate or misleading.
  • Cachinal mineral resources were classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014).
  • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  • All figures have been rounded to reflect the relative accuracy of the estimates.
  • Cut-off grades are based on metal price assumptions of US$22.00 / ounce of silver and US$1,550 / ounce of gold, and metallurgical recoveries of 85% for both silver and gold using milling and cyanide leaching.
  • The portion of the Mineral Resources that has been determined to be amenable to extraction through open-pit methods was reported to a cut-off of 30 g/t silver equivalent. The silver equivalent grade was calculated based on metals prices and metallurgical recoveries as noted above.
  • The open-pit Mineral Resource is constrained within Lerchs-Grossman optimised pit shells that assume mining dilution & losses of 2.5%, 50-degree overall slope angles, mining costs of $2/t rock, general and administrative costs of $2/t rock, processing costs of US$15/t for processing using milling and cyanide leaching.
  • The portion of the Mineral Resources deemed to be amenable to extraction throughunderground methods are reported at a cut-off of 150 g/t silver equivalent. This assumes a mining cost of US$90/t, general and administrative costs of $2/t and a processing costs of US$15/t. The silver equivalent grade was calculated based on metals prices and metallurgical recoveries as noted above.

About Honey Badger Silver Inc.

Honey Badger Silver is a Canadian Silver company based in Toronto, Ontario, that is 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 significant landholdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district, as well as Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

Chad Williams, Director and Non-Executive Chair

For more information, please visit our website www.honeybadgersilver.com, or contact
Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | (604) 828-5886

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking information in this news release includes statements regarding: the structure and anticipated benefits of completing the acquisition of the Cachinal Project (including historical resource estimate and possible positive effects on cash-flow); the terms and conditions on which the acquisition will be completed; the approval of the TSXV regarding the acquisition of the Cachinal Project; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Such factors include, but are not limited to, risks that the conditions to completing the acquisition may not be met or waived; regulatory risks; risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Honey Badger’s issuer profile. 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, and no assurance can be given that such events will occur in the disclosed timeframes or at all. 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 by law.


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February 9, 2023

Toronto, Ontario, February 8, 2023 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) is pleased to announce the appointment of Mr. Brian Briggs as the Company’s Interim Chief Executive Officer (CEO), effective immediately. Mr. Briggs replaces the Company’s outgoing President, Edmond Thorose.

Chad Williams, Non-executive Chairman stated, “I want to thank Edmond for his commitment and many contributions to the Company and we wish him the best in his future endeavours. I would also like to welcome Brian Briggs as our new Interim CEO. He brings a depth of experience that will be of great benefit to our Company and since he is already a Director of Honey Badger his transaction to Interim CEO will be expeditious.”

Mr. Briggs has significant expertise in managing social license and environmental issues including rehabilitation of brown fields locations and historic environmental impacts. He has been in many senior management roles including Managing Director, COO and numerous VPs and or Project Management positions in domestic and international organizations. He is a professional engineer (UT, CO & WY) with over 35 years of industry experience in both underground and surface mine operations holding a BS in Mining Engineering and MS in Agricultural engineering from the University of Wyoming. He is a sixth generation mining engineer in Colorado.

Mr. Briggs will be joined by Dorian L. (Dusty) Nicol as Chief Operating Officer and Yvan Gregoire as Vice President of Business Development for the Company.

Dusty Nicol has a B.Sc. degree in Earth Science from M.I.T. and an M.A. degree in geology from Indiana University.  Dusty has over 47 years of world-wide experience in minerals exploration and mining.  He has designed and managed successful exploration programs throughout North and South America, Africa, Russia and the Former Soviet Union, and Papua New Guinea.  He led the early work in Papua New Guinea which recognized the large mineralized system in the Eastern Highlands which eventually became the K92 gold deposit.  He has also designed and managed generative gold exploration programs in Africa and Europe.  Dusty has also efficiently managed due diligence of mining projects at every stage of exploration, development, and production.  In addition to his exploration experience, he has managed the construction, development, and operation of open pit and underground gold mines and processing plants in Nevada and Mexico. Dusty has held senior corporate positions on several publicly listed companies and is currently CEO of Blue Thunder Mining Inc.  Dusty speaks six languages fluently and is a QP (NI 43-101), CP (JORC), Registered Geologist, and Chartered Geologist.

Yvan Grégoire is an asset management professional with over 30 years’ experience, first at a leading Canadian Bank and then, from 2008, as President of a boutique money management firm serving high net worth individuals, with offices in both Toronto and Montreal. Yvan graduated in Physics Engineering from Laval University in 1985 and was awarded the Charter Financial Analyst designation (CFA) in 1995.

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 significant land holdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district, as well as Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

Chad Williams, Director and Non-Executive Chair

For more information, please visit our website www.honeybadgersilver.com, or contact
Ms. Michelle Savella for Investor Relations | msavella@honeybadgersilver.com | (604) 828-5886

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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January 18, 2023

Toronto, Ontario, January 18, 2023– Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) is pleased to announce the receipt of the final approval of TSX Venture Exchange (the “TSXV“), on the consolidation of its common shares on the basis of one post-consolidation common share for every 5.7 pre-consolidation common shares issued and outstanding. The Consolidation will be effective at the open of the market on Friday, January 20, 2023 (the “Effective Date”).

The share consolidation was previously approved by the shareholders of the Company’s at the annual general and special meeting held on December 15, 2022.

As of the date of this news release, the Company has 177,688,639common shares issued and outstanding. As of the Effective Date, the Company is expected to have approximately 31,173,445 common shares issued and outstanding, subject to treatment of fractional shares. Each shareholder’s percentage ownership in the Company and proportional voting power will remain unchanged, except for minor adjustments resulting from the treatment of fractional shares.The Company will not change its name as part of the Consolidation but will issue new share certificates under a new CUSIP number, which is 438340200 (ISIN:CA4383402001). The Company’s common shares will continue to trade on the Exchange under its current symbol, “TUF”.

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 significant land holdings in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district, as well as Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

Chad Williams, Director and Non-Executive Chair

 

For more information, please visit our website www.honeybadgersilver.com, or contact Mr. Edmond Thorose, President | ethorose@honeybadgersilver.com | (647) 278-5160

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the closing of the Offering (if at all); the demand for Units (if any); the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

 

Such factors include, but are not limited to, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Honey Badger Silver’s issuer profile. 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, and no assurance can be given that such events will occur in the disclosed timeframes or at all. 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 by law.


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January 11, 2023

TORONTO, January 11, 2023 (GLOBE NEWSWIRE) – Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) is pleased to announce certain constructive amendmentsto thepreviously announced (see the Company’s news release dated June 10, 2022) non‑binding term sheet (the “Term Sheet”) signed onJune 9, 2022, with Aftermath Silver Ltd. (“Aftermath”), with regards to the potential acquisition by the Company of a 100% interest in the Cachinal De La Sierra Silver-Gold Project (the “Cachinal Project” or “Cachinal”), located in the Cachinal de la Sierra area in Chile’s Antofagasta region (Region II), from Aftermath.

In connection with the amendments to the Term Sheet, the exclusivity period has been extended by the parties to enter into definitive documentation relating to the proposed acquisition of the Cachinal Project to February 15, 2023. Except as summarized below, all other terms remain the same as was originally set out in the Term Sheet and disclosed in the Company’s June 10, 2022 announcement.

Chad Williams, the Company’s Non-Executive Chairman and Director, commented, “We are pleased with the modifications to the non-binding term sheet with Aftermath relating to the acquisition of Cachinal,and we extend our thanks to Aftermath for their commitment to constructive negotiationsand what we expect will be a mutually beneficial transaction. We look forward to finalizing the definitive agreement in the coming weeks and, if definitive documentation is executed, we expect the transaction to close in a timely manner thereafter, subject to regulatory approval and satisfaction or waiver, as applicable, of customary closing conditions.”

Rationale for Transaction

The proposed acquisition of Cachinal by Honey Badger is expected to create significant shareholder value and deliver multiple benefits for Honey Badger shareholders, namely:

  • Adds NI 43-101 compliant 16.39 million ounces silver in the Indicated category and 2.48 million ounces silver in the Inferred category(1)
  • Accretive transaction with an expected acquisition cost of $0.27/oz of silver, providing shareholders with significant leverage to increasing silver prices
  • Excellent potential for material resource growth at depth targeting high-grade feeder structures
  • Potential to unlock local synergies with industry players and generate near-term cash flows by leveraging possible excess mill capacity at the nearby Guanaco gold-silver mine complex, just 16 road kilometers to the south of Cachinal.

The Cachinal acquisition, if completed, would mark an important milestone for Honey Badger, as it is expected to meaningfully expand the Company’s silver resource base, complementing its portfolio of high-grade, district scale silver properties in the Yukon.

Amended Payment Terms:

  • At closing, it is expected that Honey Badger will issue common shares to Aftermath having a value of C$1,000,000 at a deemed price per share equal to the greater of: (a) a minimum share price of C$0.05 per share(2); or (b) at the volume weighted average price (“VWAP”) of Honey Badger’s common shares trading on the TSX Venture Exchange (the “TSXV”) for a period of thirty (30) days immediately preceding the closing; or (c) the maximum discounted price allowed under the policies of the TSXV. This represents approximately 10% of Honey Badger’s shares outstanding post-transaction, if shares are issued at C$0.05/share. In addition, Honey Badger is expected to pay C$652,000 in cash on closing.
  • Additional cash payments are expected to be made in three subsequent payments, with Honey Badger expected to have the option to satisfy such payments in cash or by the issuance of additional common shares ata deemed price per share equal to the greater of (a) a minimum share price of C$0.05 per share(2); or (b) at the volume weighted average price (“VWAP”) of Honey Badger’s common shares trading on the TSX Venture Exchange (the “TSXV”) for a period of thirty (30) days immediately preceding the date on which the payment is due; or (c) the maximum permitted discount to “market price” under the policies of the TSXV. The subsequent cash payments are expected to be as follows:
    • C$200,000 by May 31st, 2023
    • C$400,000 by March 31, 2024
    • C$400,000 by September 31, 2024
  • Hold Period: In addition to any hold periods imposed by applicable securities laws, the shares of Honey Badger to be issued to Aftermath (the “Consideration Shares”) are expected to be subject to the following restrictions on transfer, subject to customary exceptions (the “Holding Period”): (i) 50% of the number of the shares issued as part of the share consideration shall have a contractual hold period expiring six months and one day from the date of issuance, and (ii) the remaining 50% of the shares issued as part of the share consideration shall have a contractual hold period expiring twelve-months and one day from the date of issuance. The foregoing restrictions will be set out in a lock-up agreement that the parties will enter into as part of closing, which will include customary covenants regarding dealings with the Consideration Shares subject to the Holding Period, including: (i) voting support and standstill covenants during the period in which Consideration Shares are subject to the Holding Period; and (ii) limiting the number of shares that may be sold following the expiry of the Holding Period, in each case on reasonable terms and conditions agreed by the parties, each acting reasonably.
  • It is expected that, upon commencement of commercial production at Cachinal, Honey Badger shall pay, in cash or shares at Aftermath’s option, C$0.50 per payable silver ounce produced at the Cachinal Project, capped at C$2,500,000 in payments.

The proposed acquisition of the Cachinal Project remains subject to negotiation and finalization of definitive documentation and, if definitive documentation is entered into, the completion of the transaction will be subject to customary closing conditions for transactions of this nature. The transaction (including any issuance of common shares of the Company resulting therefrom) will also be subject to approval by the TSX Venture Exchange. No assurance can be given that the parties will enter into definitive documentation relating to the acquisition of the Cachinal Project, or that the terms of such transaction may not be further revised, or if definitive documentation in respect of a transaction is entered into by the parties, that the transaction will be completed in the manner anticipated by the parties, or at all.

Notes:

  • Notes on the Cachinal Mineral Resource Estimate:

 

  • For complete details on the Cachinal Mineral Resource estimate, please refer to the NI 43-101 technical report titled “Independent Technical Report for the Cachinal Silver-Gold Project, Region II, Chile”, by Qualified Persons G. Cole, (P.Geo) of SRK Consulting (Canada) Inc. and S. Alvarado Casas, of Geoinvest SAC E.I.R.L. (Chile), dated September 11, 2020 with an effective date of August 10, 2020, filed on the Aftermath Silver SEDAR profile.
  • Cachinal mineral resources were classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014).
  • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  • All figures have been rounded to reflect the relative accuracy of the estimates.
  • Cut-off grades are based on metal price assumptions of US$22.00 / ounce of silver and US$1,550 / ounce of gold, and metallurgical recoveries of 85% for both silver and gold using milling and cyanide leaching.
  • The portion of the Mineral Resources that has been determined to be amenable to extraction through open-pit methods was reported to a cut-off of 30 g/t silver equivalent.
  • The open-pit Mineral Resource is constrained within Lerchs-Grossman optimised pit shells that assume mining dilution & losses of 2.5%, 50-degree overall slope angles, mining costs of $2/t rock, general and administrative costs of $2/t rock, processing costs of US$15/t for processing using milling and cyanide leaching.
  • The portion of the Mineral Resources deemed to be amenable to extraction through underground methods are reported at a cut-off of 150 g/t silver equivalent. This assumes a mining cost of US$90/t, general and administrative costs of $2/t and a processing costs of US$15/t.

 

  • The deemed price per share shown is based on a pre-consolidated basis in reference to Honey Badger’s proposed share consolidation announced on December 16, 2022 (the “Consolidation”). If the closing occurs after the effectiveness of the Consolidation, then the deemed price per share at which the closing share consideration will be issued will be adjusted accordingly.

 

ON BEHALF OF THE BOARD
Chad Williams
Director and Non-Executive Chair

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 advanced projects in the southeast and south-central Yukon including the Plata property 180 kms to the east of the Keno Hill silver district, and a dominant land position in Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

For more information, please visit our website above, or contact:
Mr. Ed Thorose: ethorose@honeybadgerexp.com
President

(647) 278-5160

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release and any other information herein that is not a historic fact may be “forward-looking information”. Forward-looking information are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects”, and similar expressions which are intended to identify forward-looking information as such. More particularly and without limitation, this news release contains forward-looking information concerning the proposed acquisition by the Company of the Cachinal Project, the proposed amended consideration of such acquisition, and the ability of the parties thereto to complete the negotiation of definitive documentation and consummate the proposed transaction on the terms and timelines anticipated. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company cautions that all forward-looking information is inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including: risks relating to failing to negotiate the definitive documentation concerning the proposed acquisition of Cachinal on the terms expected or at all; risks relating to inability to secure necessary third-party consents or regulatory or other governmental approvals on a timely basis, or at all; general political risks and risks relating to changing laws, risks inherent with uncertain economic conditions, among other risks and uncertainties. Accordingly, the reader is cautioned not to place undue reliance on any forward-looking information contained in this news release. The forward-looking information contained in this news release are made as of the date hereof, and 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 by law.


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December 18, 2022

Toronto, Ontario, December 16, 2022 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) is pleased to announce the voting results from the Company’s Annual General and Special Meeting of Shareholders held virtually on December 15, 2022.

 

Shareholders voted in favour of all matters brought before the meeting as follows:

  • Re-appointment of the current directors of the Company for the ensuing year: Chad Williams, Brian Briggs, Doug Eaton and John H. Hill;
  • Appointment of Jones & O’Connell LLP as the auditors of the Company for the ensuing year,and authorizing the Company’s directors to fix their remuneration;
  • Re-approval of the 10% rolling stock option plan, in accordance with stock exchange rules;
  • Approval of the amendment to the Articles of the Corporationto consolidate theissued and outstanding common shares on the basis of 1 new common share for every 5.7 old      common shares of the Corporation, subject to TSX-V approval.

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 significant land position inOntario’s historic Thunder Bay Silver District and advanced projects in southeast and south-central Yukon, including the Plata property 180 kms to the east of the Keno Hill silver district, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

Chad Williams, Director and Non-Executive Chair

 

For more information, please visit our website above, or contact:

 

Ms. Christina Slater: cslater@honeybadgersilver.com

(647) 848-1009

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the closing of the Offering (if at all); the demand for Units (if any); the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

 

Such factors include, but are not limited to, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Honey Badger Silver’s issuer profile. 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, and no assurance can be given that such events will occur in the disclosed timeframes or at all. 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 by law.


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November 17, 2022

Toronto, Ontario, November 15, 2022 – Honey Badger Silver Inc. (TSXV: TUF) (“Honey Badger” or the “Company”) announces details of its proposal to consolidate all of the issued and outstanding Common Shares of the Company on the basis of one(1) New Common Share for every 5.7 old Common Shares (the “Consolidation”), subject to the approval of shareholders at the upcoming meeting of shareholders to take place on December 15, 2022,as well as TSXV approval.

 

With currently 177,688,639 Common Shares issued and outstanding in the share capital of the Corporation, on a post-Consolidation basis the Company shall have approximately 31,173,445 Common Shares issued and outstanding. The purpose of the Consolidation is to adjust the number of outstanding common shares to levels that are better aligned with companies of Honey Badger Silver’s valuation and scope,with the potential to provide additional trading liquidity to investors.

The Consolidation will not materially affect the percentage ownership a shareholder has in the Corporation,nor impact on the respective voting rights and privileges.  It simply increases a shareholder’s per share value proportionately through a reduction in the number of issued and outstanding shares.The name of the Company will remain unchanged after the Consolidation.

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 advanced projects in southeast and south-central Yukon and a significant land position in Ontario’s historic Thunder Bay Silver District, Honey Badger Silver is positioning to be a top-tier silver company.

ON BEHALF OF THE BOARD

Chad Williams,

Non-Executive Chairman and Director

 

Honey Badger Silver Inc.

401 Bay Street, Suite 2704,

P.O. Box 4, Toronto, Ontario, M5H 2Y4

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the closing of the Offering (if at all); the demand for Units (if any); the use of proceeds of the Offering; the approval of the TSX Venture Exchange relating to the Offering; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger Silver to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

 

Such factors include, but are not limited to, capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR (www.sedar.com) under Honey Badger Silver’s issuer profile. 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, and no assurance can be given that such events will occur in the disclosed timeframes or at all. 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 by law.

 


OUR

Headquarters

Unit 1 – 15782 Marine Drive
White Rock, British Columbia V4B 1E6

+1 (604) 828-5886

www.honeybadgersilver.com

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