Barksdale Announces Private Placement Financing
Barksdale Announces Private Placement
Financing
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2024) - Barksdale Resources Corp. (TSXV:
BRO) ("
Barksdale
" or the "
Company
") announces a non-brokered private placement financing of
26,666,667 units (the "
Units
") at a price of $0.15 per Unit for gross proceeds to the Company of
$4,000,000 (the "
Offering
"). Each Unit will consist of one common share of Barksdale (a "
Common
Share
") and one Common Share purchase warrant (a "
Warrant
"). Each Warrant shall entitle the holder
to acquire one Common Share at a price of $0.23 for a period of three years from the date of issuance.
Several existing shareholders, including Crescat Capital LLC ("
Crescat
"), have cumulatively committed
a minimum of $2,500,000 to the Offering.
Dr. Quinton Hennigh, Technical and Geologic Director of Crescat Capital, a strategic investor in
Barksdale, stated: "It is hard to think of a project with superior geological potential as Barksdale's
Sunnyside property located in the Patagonia mining district, Arizona. Immediately adjacent to Sunnyside
on its eastern boundary is the world class Taylor carbonate replacement deposit where South32 is
currently investing $2.1B to construct a large-scale new zinc-lead-silver mine. Strong evidence indicates
that the Taylor deposit extends onto the Sunnyside property where it is rooted in the presumed heat
engine, the Sunnyside porphyry. While this target alone is compelling, evidence suggests that a series of
CRD deposits encircle the Sunnyside porphyry radiating outward like spokes around the hub of a wagon
wheel. We here at Crescat are fully committed to seeing Barksdale unlock the enormous potential of the
Sunnyside project."
Rick Trotman, President and Chief Executive Officer of Barksdale, stated, "With the backing of our
largest shareholders, we are excited to begin the next phase of drilling at Sunnyside. The focus over the
next few months will be on solidifying our ownership stake in the Sunnyside project as the drill program
demonstrates the potential of this substantial mineral system."
The proceeds of the Offering will be used to finance exploration activities at the Company's properties in
Arizona as well as for working capital and general corporate purposes. Closing is expected to occur on
or about June 25, 2024. All securities issued by Barksdale will be subject to a minimum hold period of
four months and one day from the date of issuance and completion of the Offering is subject to
customary closing conditions, including acceptance of the TSX Venture Exchange (the "
Exchange
").
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "
U.S. Securities Act
"), or any state securities laws, and may
not be offered or sold within the United States except in compliance with the registration requirements of
the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions
therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any
securities in the United States.
About Crescat Capital LLC
Crescat is a value-driven asset management firm with a global macro thematic overlay. The goal of its
activist metals' strategy is to help exploration-focused mining companies create new economic metal
deposits in viable mining jurisdictions around the world. The firm's investment process involves a mix of
asset classes and strategies to assist with each client's unique needs and objectives and includes
Global Macro, Long/Short, and Precious Metals funds.
Barksdale Resources Corp.
, a 2023 OTCQX BEST 50 Company, is a base metal exploration
company headquartered in Vancouver, B.C., that is focused on the acquisition, exploration and
advancement of highly prospective base metal projects in North America. Barksdale is currently
advancing the Sunnyside copper-zinc-lead-silver project in the Patagonia mining district of southern
Arizona, which hosts several significant porphyry copper deposits as well as the adjoining world-class
Hermosa carbonate-replacement lead-zinc-silver deposit which is under construction by a major mining
company.
ON BEHALF OF BARKSDALE RESOURCES CORP
Rick Trotman
President, CEO and Director
Terri Anne Welyki
Vice President of Communications
778-238-2333
For more information please phone 778-558-7145, email
or visit
www.BarksdaleResources.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news
release contains certain "forward-looking information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable securities legislation. Forward-looking
statements are frequently, but not always, identified by words such as "expects", "anticipates",
"believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that
events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements,
other than statements of historical fact, included herein, without limitation, statements relating to the
closing of the Offering, Exchange approval thereof, the participation of certain shareholders, the use of
proceeds with respect to the Offering, and the potential of the Company's Sunnyside project in Arizona
are forward-looking statements. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in such
statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the
statements are made and are based upon a number of assumptions and estimates that, while
considered reasonable by Barksdale, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed or implied by such forward-
looking statements and the Company has made assumptions and estimates based on or related to
many of these factors. Such factors include, without limitation, the ability to obtain necessary
approvals, the ability to complete proposed exploration work, the results of exploration, continued
availability of capital, and changes in general economic, market and business conditions. Readers
should not place undue reliance on the forward-looking statements and information contained in this
news release concerning these items. Barksdale does not assume any obligation to update the
forward-looking statements of beliefs, opinions, projections, or other factors, should they change,
except as required by applicable securities laws.
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