|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.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Feb. 25, 2017 10:30 PM EST Reads: 1,854
Feb. 25, 2017 09:45 PM EST Reads: 9,310
Feb. 25, 2017 09:00 PM EST Reads: 9,120
Feb. 25, 2017 08:45 PM EST Reads: 1,935
Feb. 25, 2017 08:45 PM EST Reads: 4,715
Feb. 25, 2017 08:00 PM EST Reads: 13,552
Feb. 25, 2017 08:00 PM EST Reads: 11,323
Feb. 25, 2017 08:00 PM EST Reads: 1,913
Feb. 25, 2017 07:45 PM EST Reads: 523
Feb. 25, 2017 07:30 PM EST Reads: 1,807
Feb. 25, 2017 07:00 PM EST Reads: 8,822
Feb. 25, 2017 07:00 PM EST Reads: 1,688
Feb. 25, 2017 06:45 PM EST Reads: 1,938
Feb. 25, 2017 06:30 PM EST Reads: 1,394
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Feb. 25, 2017 06:30 PM EST Reads: 2,174