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Honey Badger Silver Closes Yukon Silver Asset Purchase

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Honey Badger Silver Closes Yukon Silver Asset Purchase

 

 

 

 

 

Honey Badger Silver Inc. (TSX-V: TUF) is pleased to announce that it has closed its previously announced transaction with Strategic Metals Ltd. (TSX-V: SMD) to acquire a 100% interest in the following three silver-focused advanced properties located in the Yukon Territory, Canada:

 

(1) Plata: lies within the Tintina Gold Belt with geology analogous to the prolific Keno Hill silver district,

(2) Groundhog: falls within a belt of high-grade gold occurrences including the Ketza Mine with very high grade silver in rock samples, and

(3) Hy: covers many high-grade silver occurrences first discovered in the 1960’s (for more information on the Properties, please refer to the Company’s news release dated February 11, 2021).

 

“This is an important transaction for Honey Badger Silver. Each of these silver properties has the potential to host significant higher-grade silver mineralization. They are advanced, well situated, and have promising geology. We are eager to quickly crystallize value from these silver assets,” said Chad Williams, Executive Chairman of Honey Badger Silver. “This transaction is an example, and merely the beginning, of your management’s efforts to grow Honey Badger into a substantial silver company.”

 

Transaction Terms 

 

In consideration for a 100% interest in the Properties, Honey Badger Silver issued to Strategic Metals 34,804,718 common shares in the capital of Honey Badger Silver, representing 19.9% of the issued and outstanding common shares of the Company following the closing of the Transaction, and granted to Strategic Metals the right to participate, on the same commercial terms as other investors, in the next two equity financings undertaken by the Company in order to allow Strategic Metals to maintain its equity position in Honey Badger Silver.  Strategic Metals will retain a 2% net smelter return royalty on all minerals other than silver to be extracted from the Properties.

 

The securities issued under the Transaction are subject to a four month hold period expiring on October 5, 2021. The Transaction remains subject to the final approval of the TSX Venture Exchange.

 

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

 

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.

 

Posted June 8, 2021

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