Barksdale Announces Second Upsizing of Private Placement Financing
Barksdale Announces Second Upsizing of
Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2024) - Barksdale Resources Corp. (TSXV:
BRO) ("
Barksdale
" or the "
Company
") is pleased to announce a second increase to its previously
announced non-brokered private placement offering of units of the Company ("
Units
") at a price of
$0.15 per Unit (the "
Offering
"). Each Unit consists of one common share of Barksdale (a "
Common
Share
") and one Common Share purchase warrant (a "
Warrant
"), whereby each Warrant entitles the
holder to acquire one Common Share at a price of $0.23 for a period of three years from the date of
issuance.
The Offering, initially comprised of 26,666,667 Units (see news release dated June 5, 2024), was
previously upsized to 37,500,000 Units (see news release dated June 11, 2024), subsequent to which
the Company closed the first tranche of the Offering issuing a total of 27,325,317 Units for gross
proceeds of $4,098,798 (see news release date June 27, 2024). The Company has now further
increased the size of the Offering to 42,000,000 Units in order to raise further proceeds of up to
approximately $2,200,000 for aggregate gross proceeds from the Offering of up to $6,300,000.
The Company expects to close the second and final tranche of the Offering on July 26, 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 TSX Venture Exchange final
acceptance.
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.
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.
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
closing of the second and final tranche of the Offering, completion of the Offering and TSX Venture
Exchange approval thereof, and the use of proceeds from the Offering 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.
// NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES //
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