Honey Badger closes $303K private placement

Honey Badger Exploration Inc.



News Release

Honey Badger Announces Closing of Private Placement

TORONTO, Dec. 14, 2017 — Honey Badger Exploration Inc. (TSX-V:TUF) (“Honey Badger” or the “Company”) announces that it completed on December 13, 2017 the previously announced non-brokered private placement financing for aggregate gross proceeds of $303,250 (the “Financing”) through the sale of 4,033,334 flow-through units (the “FT Units”) and 1,088,889 non-flow units (the “Non-FT Units”).

Each FT Unit was priced at $0.06 per FT Unit and consists of one “flow through” common share of the Company and one half of one non-flow-through common share purchase warrant, with each such full warrant exercisable to acquire one common share in the capital of the Company (each a “Common Share”) for a period of three years following the issuance thereof at a price of $0.10 per Common Share.

Each Non-FT Unit was priced at $0.05625 per Non-FT Unit and consists of one Common Share of and one full share purchase warrant, with each such warrant exercisable to acquire one Common Share for a period of three years following the issuance thereof at a price of $0.075 per Common Share.

The gross proceeds from the sale of the FT Units totalling $242,000 will be used for “Canadian exploration expenditures” (within the meaning of the Income Tax Act (Canada)) on the Company’s exploration properties. The net proceeds from the Non-FT Units will be used for general working capital and other corporate purposes.

In connection with the Financing, Honey Badger paid finders fees in the form of cash compensation of $4,260 and issued 72,000 non-transferable compensation units, with each such compensation unit exercisable at a price of $0.05625 for a period of 3 years following the issuance thereof to acquire one Common Share of the Company and one Non-FT Warrant. Each Non-FT Warrant is exercisable to acquire one Common Share of the Company at a price of $0.075 for a period of 36 months following the closing of the Financing.

The Financing is subject to the satisfactory completion and receipt of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (“TSXV”), and other customary conditions.

Any securities issued pursuant to the Financing will be subject to a restricted period of four months and one day from the date of issuance.

About Honey Badger Exploration Inc.

Honey Badger Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada with exploration properties in Ontario and Québec. The company’s common shares trade on the TSX Venture Exchange under the symbol “TUF”.

Qualified Person
Quentin Yarie, PGeo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release and is responsible for overseeing all aspects of the company’s exploration programs.

Contact Us

For more information about the Company visit www.honeybadgerexp.com or call:
• Quentin Yarie, President & CEO, (416) 364-7029, qyarie@honeybadgerexp.com
• Mia Boiridy, Investor Relations, (416) 364-7029, honeybadgerexp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.