Proceeds earmarked for exploration activities on Radisson property
By Devika Patel
Knoxville, Tenn., Sept. 30 - Honey Badger Exploration Inc. said it completed the first tranche of a C$1.5 million private placement of units, raising C$500,000.
The company is selling 15 million units of one common share and one half-share warrant at C$0.10 per unit. It sold 5 million units in this tranche.
Each two-year warrant will be exercisable at C$0.20. The strike price reflects a 15.94% premium to the Sept. 29 closing share price of C$0.065.
Proceeds will be used for exploration activities on the Radisson property.
Honey Badger is a gold and base metals exploration company based in Toronto.
| Issuer: | Honey Badger Exploration Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Settlement date: | Sept. 30 (for C$500,000)
|
| Stock symbol: | TSX Venture: TUF
|
| Stock price: | C$0.065 at close Sept. 29
|
| Market capitalization: | C$3.32 million
|
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