Honey Badger Exploration Inc. (TSX VENTURE:TUF) ("Honey Badger" or the "Company") announces that it intends to offer for sale, on a non-brokered private placement basis, up to 13,125,000 "flow-through" units of the Company (the "FT Units") at a price of $0.04 per FT Unit and up to 10,000,000 non-flow-through units of the Company (the "Non-FT Units") at a price of $0.03 per Non-FT Unit for aggregate gross proceeds to Honey Badger of up to $825,000 (the "Offering"). Each FT Unit will be comprised of one common share in the capital of the Company (each, a "Common Share") issued on a "flow-through" basis within the meaning of such term in the Income Tax Act (Canada), and one Common Share purchase warrant (each, a "FT Unit Warrant"), with each FT Unit Warrant being exercisable to acquire one non-flow-through Common Share at a price of $0.07 for a period of 36 months following the closing date of the Offering. Each Non-FT Unit will be comprised of one Common Share (issued on a non-"flow-through" basis) and one Common Share purchase warrant (each, a "Non-FT Warrant") with each Non-FT Warrant being exercisable to acquire one Common Share at a price of $0.05 for a period of 36 months following the closing date of the Offering. continues here
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We're now at that juncture, when a bit of early mover cash has flowed into the miners, but mostly the decent quality producers or the exploration-stage companies with serious management teams and decent rocks to play with.
Now comes the acid test, will Canada learn from its years of misery, or will they be stupid enough to fund things like this?
Up to you folks: Just a couple of months ago you were at the TSX townhall meetings with your pitchforks in your hands, demanding better capital markets and "change". Fact is, you'll be condemned to the same cycle if you put money into these dogs and be clear, TUF.v above is only one, topical because that NR is from today but there are literally hundreds more that need to die.
Do. Not. Feed. The. Animals.