|By Marketwired .||
|June 25, 2014 08:01 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/25/14 -- Honey Badger Exploration Inc. (TSX VENTURE: TUF) ("Honey Badger" or the "Company") announces that it has entered into an agreement (the "Agreement") with IBK Capital Corp. ("IBK"), under which IBK has agreed to act as agent, on a best efforts basis, for brokering a private placement of up to 20,000,000 units ("Units") of Honey Badger at a price of $0.15 per Unit for aggregate gross proceeds of up to $3,000,000 (the "Offering"). Each Unit will consist of two flow-through common shares of Honey Badger ("FT Shares"), one non flow-through common share of Honey Badger and three non flow-through common share purchase warrants ("Warrant(s)"). Each Warrant will be exercisable to acquire one common share of Honey Badger at an exercise price of $0.05 per warrant for a period of 48 months from date of issuance.
It is anticipated that the private placement will close on or before July 11, 2014, and is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange, and other customary conditions. Funds raised from the private placement will be used to finance an upcoming drill program and for further exploration work on the Sagar Property located in Northern Quebec. Proceeds will also be used for acquisition costs of the Sagar Property, brokerage commissions, legal fees and for general working capital purposes.
The proceeds from the sale of the FT Shares comprised in the Units will be used to incur eligible Canadian Exploration Expenses, as defined under the Income Tax Act (Canada) that will be renounced in favour of the subscribers with an effective date of December 31, 2014.
As part of the Agreement, IBK is entitled to a cash commission of 9% of the gross proceeds raised under the Offering as well as Broker Warrants (the "Broker Warrants") equal to 10% of the aggregate Units issued. Each Broker Warrant will entitle the holder to acquire three non flow-through common shares and three non flow-through warrants at a price of $0.15 per Broker Warrant for a period of four years from the date of issuance. Each underlying warrant will be exercisable to acquire one common share of Honey Badger at an exercise price of $0.05 per warrant for a period of 48 months from original date of Broker Warrant issuance.
All securities issued under the private placement will be subject to a four month and one day hold period 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 properties in Quebec and British Columbia. The Company's common shares trade on the TSX Venture Exchange under the symbol "TUF".
For more information, please visit our website at http://www.honeybadgerexp.com.
This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Cautionary Statement: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Dec. 3, 2016 12:15 PM EST Reads: 1,484
Dec. 3, 2016 12:00 PM EST Reads: 722
Dec. 3, 2016 12:00 PM EST Reads: 926
Dec. 3, 2016 11:45 AM EST Reads: 672
Dec. 3, 2016 11:45 AM EST Reads: 442
Dec. 3, 2016 11:30 AM EST Reads: 2,065
Dec. 3, 2016 11:30 AM EST Reads: 821
Dec. 3, 2016 11:15 AM EST Reads: 1,624
Dec. 3, 2016 10:45 AM EST Reads: 791
Dec. 3, 2016 10:45 AM EST Reads: 2,137
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 09:30 AM EST Reads: 827
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Dec. 3, 2016 09:30 AM EST Reads: 3,925
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 09:15 AM EST Reads: 699
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Dec. 3, 2016 09:00 AM EST Reads: 451
Application transformation and DevOps practices are two sides of the same coin. Enterprises that want to capture value faster, need to deliver value faster – time value of money principle. To do that enterprises need to build cloud-native apps as microservices by empowering teams to build, ship, and run in production. In his session at @DevOpsSummit at 19th Cloud Expo, Neil Gehani, senior product manager at HPE, discussed what every business should plan for how to structure their teams to delive...
Dec. 3, 2016 08:30 AM EST Reads: 1,356