Honey Badger Announces Closing of Flow-Through Private Placement Offering
06 Outubro 2011 - 9:00AM
Marketwired
Honey Badger Exploration Inc. ("Honey Badger" or the "Company")
(TSX VENTURE:TUF) announces the closing of its flow-through private
placement offering (the "Offering") of securities of the Company.
Total gross proceeds received amounted to $1,402,000 for the
Offering. Of this total, $902,000 was received as part of the
second and final tranche.
Pursuant to the Offering, the Company issued an aggregate of
14,020,000 units (the "Units") at a price of $0.10 per Unit. Each
Unit is comprised of one "flow-through" common share and one half
of one non-flow through common share purchase warrant. Each full
warrant entitles the holder to purchase one common share of the
Company for $0.20 per share and expires 24 months from the date of
closing. Insiders of the Company subscribed for $350,000 of the
total proceeds.
The Company paid fees totaling $35,000 and issued 350,000
non-transferable compensation options, with each such option
entitling the holder to acquire one Unit at a price of $0.10 per
Unit for a period of 24 months following closing.
All securities issued pursuant to the Offering are subject to a
restricted period of four months and one day from the date of
issuance. The Offering is subject to receipt of final approval from
the TSX Venture Exchange.
The Company intends to primarily use the proceeds of the
Offering to further exploration activities on its Radisson property
in Northern Quebec.
About Honey Badger Exploration Inc.
Honey Badger Exploration is a gold and base metals exploration
company headquartered in Toronto, Ontario, Canada. The Company's
common shares trade on the TSX Venture Exchange under the symbol
"TUF".
Administration
A total of 1,875,000 stock options were issued to directors,
officers and consultants of the Company on October 5, 2011 under
the terms of the incentive stock option plan of the Company filed
with the TSX Venture Exchange and approved by shareholders at the
last Annual General Meeting of Shareholders of the Company held on
June 23, 2011. Of this total, 910,000 stock options were issued to
insiders of the Company. All of the stock options issued are
exercisable at a price of $0.10 per share and expire on October 5,
2016. Any shares issued pursuant to the exercise of stock options
will be subject to a four month and one day hold from the date of
granting of the stock options.
For more information, please visit our website at
http://www.honeybadgerexp.com.
This News Release contains forward-looking statements.
Forward-looking statements are statements which relate to future
events. In some cases, you can identify forward-looking statements
by terminology such as "may", "should", "expects", "plans",
"anticipates", "believes", "estimates", "predicts", "potential" or
"continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors that may
cause our or our industry's actual results, levels of activity,
performance or achievements to be materially different from any
future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements.
Neither 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.
Contacts: Honey Badger Exploration Inc. Brent Nykoliation Vice
President of Business Development (416) 364-7029 (416) 364-2753
(FAX)bnykoliation@HoneyBadgerexp.com Honey Badger Exploration Inc.
Kirk McKinnon President & CEO (416) 364-7029 (416) 364-2753
(FAX)http://www.honeybadgerexp.com
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