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Honey Badger Silver Closes Transaction to Acquire 80% Interest and Control over additional Thunder Bay Silver Properties

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Honey Badger Silver Closes Transaction to Acquire 80% Interest and Control over additional Thunder Bay Silver Properties

 

 

 

 

 

Honey Badger Silver Inc. (TSX-V: TUF) is pleased to announce that it has closed the previously announced Definitive Agreement with Romios Gold Resources Inc. 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 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.

 

 

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.

 

Posted July 26, 2021

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