- Honey Badger Silver (TUF) is signing a definitive agreement with Strategic Metals Ltd.
- Honey Badger is acquiring right and title to three silver-focused properties in south-central Yukon from Strategic Metals
- The Plata, Groundhog and Hy properties are each located in proximity to major historical silver camps or workings
- The Acquisition is expected to close on or before April 30, 2021
- Honey Badger Silver is unchanged on the day, with the company’s shares trading at C$0.13 at 11:28am ET
Honey Badger Silver (TUF) is signing a definitive agreement with Strategic Metals Ltd.
Honey Badger is acquiring right and title to three silver-focused properties in south-central Yukon from Strategic Metals.
The Plata, Groundhog and Hy properties are each located in proximity to major historical silver camps or workings.
All three are at stage where they can reasonably be considered cost-effective to further advance.
“The Yukon properties present a stellar complement to our Thunder Bay portfolio and position the Company to be a top-tier silver pure play vehicle for exceptional growth,” said Honey Badger Chairman Chad Williams.
Honey Badger will issue 34,762,104 common shares in the capital of Honey Badger Silver to Strategic Metals as payment.
That figure represents 19.9 per cent of the issued and outstanding common shares of the company after the closing of the previously announced unit offering for gross proceeds of $3 million, which is a condition of the acquisition.
The acquisition is expected to close on or before April 30, 2021.
Honey Badger Silver is a silver-focused company headquartered in Toronto, with properties in Quebec and Ontario including an expansive interest in the Thunder Bay Cobalt-Silver District.
Honey Badger Silver is unchanged on the day, with the company’s shares trading at C$0.13 at 11:28am ET.