Toronto, Ontario – July 10, 2017 – Honey Badger Exploration Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”), further to its press release of June 26, 2017, announces that the TSX Venture Exchange (TSXVE”) has approved a share consolidation of the Company’s issued and outstanding common shares (the “Consolidation”) at a ratio of five (5) pre-consolidation shares to one (1) post-consolidation share (the “Conversion Ratio”).
The Consolidation is expected to be effective at the open of market on Wednesday, July 12, 2017 (the “Effective Date”). The Company will not change its name as part of the Consolidation, but will issue new share certificates under the new CUSIP number 438335200 (ISIN: CA4383352008). No fractional shares will be issued in connection with the Consolidation. The Company’s common shares will continue to trade on the TSXVE on a consolidated basis under its current symbol “TUF”.
Honey Badger currently has 104,788,849 common shares issued and outstanding. As of the Effective Date and after giving effect to the Consolidation, the Company will have approximately 20,957,770 common shares issued and outstanding. Registered shareholders will receive a letter of transmittal from TSX Trust Company, the Company’s transfer agent, with information on how to exchange their pre-Consolidation share certificates for post-Consolidation share certificates. Shares held in uncertificated form by non-registered shareholders through brokerage accounts will be converted at the Conversion Ratio through each shareholder’s brokerage accounts. Non-registered shareholders should consult their broker for further information.
The global barite market is experiencing rapid growth. Production growth in the oil and gas sector will continue to drive the demand for barite. While India and China hold a dominant position in the barite supply, there is an increased focus on discovering and developing new barite resources across the world.
About Honey Badger Exploration Inc.
Honey Badger Exploration is an exploration company headquartered in Toronto, Ontario, Canada with properties in Québec. The company's common shares trade on the TSX Venture Exchange under the symbol "TUF".
For more information about the Company visit http://www.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.
This News Release contains forward-looking statements. Forward-looking statements are statements which 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.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.