VANCOUVER, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) — Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) (the “Company”) is pleased to announce that it has agreed to sell its Yava project located in Nunavut to Honey Badger Silver Inc. (TSXV: TUF). Pursuant to the definitive agreement and subject to customary closing conditions, the Company will receive 4,250,000 common shares of Honey Badger with an implied value of approximately $340,000 (being $0.08 per share reflecting a five-day moving average) (the “Transaction”). This consideration will represent approximately 6.5% of the total issued and outstanding shares of Honey Badger. Honey Badger is a silver focused entity with a significant and growing portfolio of high-quality silver projects. The consideration will be subject to the customary four-month hold period and the Company has agreed to a twelve-month lock-up period.
Patrick McGrath, the CEO of the Company, stated “The Yava project offers an exciting silver exploration opportunity and Blue Moon will continue to participate in its future through its material ownership in Honey Badger. The Yava project is considered non-core for the Company, so we are happy to monetize the asset and continue to focus on developing our Blue Moon deposit in the United States. We are currently evaluating the next steps for Blue Moon including the commencing of a Preliminary Economic Assessment.”
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This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words,
or statements that certain events or conditions “may” or “will” occur such as completion of the Transaction. Forward-looking statements are based on the opinions and estimates of management at the date the statements
are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company cannot assure
that
actual
results
will
be
consistent
with
these
forward-looking
statements.
They
are
made
as
of
the
date
hereof and are subject to change and the Company assumes no obligation to revise or update them to reflect new circumstances,
except
as
required by
law.
Prospective
investors
should not
place undue
reliance on forward looking statements. These factors include the inherent risks involved in the resource industry.
