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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (6720)	5/29/2014 6:10:58 PM
From: Goose94	Read Replies (1) of 202428

Honey Badger Exploration (TUF-V) May 29, '14 has filed a preliminary short-form prospectus in each of the provinces of Alberta, British Columbia, Ontario and Quebec in order to qualify the proposed distribution of units of the corporation at a price of five cents per unit and flow-through units of the corporation at a price of five cents per flow-through unit for maximum total gross proceeds of $7.5-million. Closing of the offering is conditional upon the corporation receiving minimum gross proceeds of $2.5-million from the sale of any combination of units and flow-through units. Each unit consists of one common share of the corporation and one non-flow-through common share purchase warrant. Each flow-through unit consists of one common share to be issued on a flow-through basis within the meaning of the Income Tax Act (Canada) and one-half of one non-flow-through warrant. Each full warrant will entitle the holder thereof to purchase one non-flow-through common share of the corporation at a price of 10 cents per unit warrant share at any time before the date that is 36 months following the closing date of the offering. The offering will be conducted on a best-effort agency basis led by Secutor Capital Management Corp. The corporation will grant an overallotment option to the agent, exercisable for a period of 30 days following the closing of the offering, in whole or in part, to purchase additional units and flow-through units to a maximum of the lesser of: (i) 15 per cent of the number of units and flow-through units sold pursuant to the offering; and (ii) the actual overallocation position of the agent. In connection with the offering, the corporation will pay the agent a cash commission equal to 6 per cent of the gross proceeds of the offering and grant a compensation option to the agent entitling it to purchase that number of non-flow-through common shares of the corporation equal to 6 per cent of the aggregate number of units and flow-through units sold under the offering (including those sold under the overallotment option) for a period of 36 months following the closing date of the offering, at a price of five cents per broker warrant share. The net proceeds from the sale of units will be used to finance the previously disclosed acquisition of the Sagar property and for general corporate purposes. The proceeds from the sale of FT units is expected to be used to incur Canadian exploration expenses (CEE) within the meaning of the Income Tax Act on the Sagar property. Purchasers of the flow-through shares with sufficient income will be entitled to claim a 100-per-cent deduction of the amount of their subscription for Canadian federal and Quebec provincial tax purposes for the 2014 taxation year, and individual purchasers will be entitled to claim an additional 15-per-cent federal non-refundable investment tax credit in respect of such expenditures. Individual purchasers of flow-through shares resident in Quebec with sufficient income will be entitled to claim two additional deductions of 25 per cent each of the amount of their subscription for the 2014 taxation year. Closing of the offering is subject to customary conditions of closing, including receipt of securities regulatory approvals as well as the approval of the TSX Venture Exchange.

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