WHITE ROCK, BC / ACCESSWIRE / October 2, 2024 / Honey Badger Silver Inc. (TSXV:TUF)(OTCQB:HBEIF) ("Honey Badger" or the "Company") is pleased to announce that it has purchased the Yava project located in Nunavut from Blue Moon Metals Inc. ("Blue Moon").
Pursuant to the purchase agreement, Blue Moon is receiving 4,250,000 common shares ("Shares") of Honey Badger valued at CAD$0.08 per Share. No other obligations by Honey Badger are required (e.
g. no cash, no spending requirements, nor any future payments). This consideration represents approximately 6.
5% of the total issued and outstanding shares of Honey Badger. The Shares are subject to a hold period under applicable securities laws which ends on February 2, 2025. Blue Moon has agreed not to resell the Shares for 12 months following closing without the consent of the Company.
Honey Badger's CEO, Dorian L. (Dusty) Nicol, commented, "The Yava project is an exciting addition to Honey Badger's growing portfolio of high-quality silver projects. We already have projects in Nunavut, NWT, and the Yukon and have experience operating in these areas.
We are acquiring this project that contains 4.5 million ounces of silver at a price of approximately $0.08 per ounce of silver in the historic resource.
The millions of pounds of substantial strategic base metal inventory come at zero cost in that calculation. In addition to its historical resource, Yava has tremendous upside exploration potential. Its location only 45 kilometres from Glen.