- Eric Sprott purchased 8,500,500 shares of Honey Badger Silver (TSXV:TUF) at an average price of C$0.72 for C$6,120,360.
- The North American silver and critical minerals mining company is advancing untapped projects in metals-rich jurisdictions spanning the Yukon, Nunavut and the Northwest Territories.
- Honey Badger Silver stock has added 900 per cent year-over-year.
Eric Sprott purchased 8,500,500 shares of Honey Badger Silver (TSXV:TUF) at an average price of C$0.72 for C$6,120,360.
The investment, purchased through 2176423 Ontario Ltd., a corporation Sprott beneficially owns, represents about 5.5 per cent of outstanding shares on non-diluted basis.
Prior to the transaction, Sprott owned 4,278,195 shares and 3,333,333 share purchase warrants, plus 5 million subscription receipts, which will automatically convert into units of Honey Badger Silver if certain escrow conditions are satisfied, as per the company’s April 15th news release.
Following the transaction, Sprott now owns 12,778,695 shares and 3,333,333 warrants, representing about 10.1 per cent of outstanding shares on a partially-diluted basis, or 11.1 per cent assuming the conversion of the subscription receipts, elevating him to insider status.
The investment increases Sprott’s exposure to a portfolio of eight high-quality Canadian silver projects highlighted by the Prairie Creek asset in the Northwest Territories, purchased for only C$12 million in cash and stock, which hosts a historical resource of 240 million ounces of silver equivalent measured and indicated, plus 167 million ounces inferred, combining for more than US$27 billion in precious metals in the ground at the current price of US$76.38 per ounce on ADVFN.
About Honey Badger Silver
Honey Badger Silver is a North American silver and critical minerals mining company advancing untapped projects in metals-rich jurisdictions spanning the Yukon, Nunavut and the Northwest Territories. The company, backed by proven mine builders and capital markets professionals, complements its district-scale land positions with 10,000 ounces of physical silver yielding 12 per cent annually.
The junior mining stock (TSXV:TUF) is down by 2.17 per cent on the news trading at C$0.90 as of 11:32 am ET. The stock has added 900 per cent year-over-year.
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