Honey Badger Closes Private Placement

Honey Badger Exploration Inc. (TSXV:TUF) announced the closure of a non-brokered private placement offering of a total of 6,449,800 common shares of the company for total gross proceeds of $322,490.

The company intends to use the proceeds for exploration activities on its Sagar property in Northern Quebec and to pay administrative expenses, including finders’ commissions.

As quoted in the press release:

The Company paid finders commissions totaling $27,350 and issued 427,000 non-transferable compensation options, with each such option entitling the holder to acquire one non flow-through common share of Honey Badger at a price of $0.05 per share for a period of 2 years following closing.

Further tranches of this offering may be closed before December 31, 2014. 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.

Click here for Honey Badger Exploration Inc. (TSXV:TUF) press release.