Barksdale Closes First Tranche of C$6.325 Million Financing and Initial Option Payment on San Javier
TSXV: BRO OTCQB: BRKCF
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DISSEMINATION IN THE UNITED STATES
Barksdale Closes First Tranche of C$6.325 Million Financing and
Initial Option Payment on San Javier
Vancouver, B.C. – September 30, 2020 - Barksdale Resources Corp. (“Barksdale” or the “ Company”)
(TSXV: BRO) (OTCQB: BRKCF) is pleased to announce that it has closed a first tranche of the
Company’s non-brokered private placement financing announced August 6, 2020 and updated September
1, 2020 (“Placement”). Under the first tranche, Barksdale has issued a total of 15,263,158 units (the
“Units”) at a price of C $0.38 per Unit for gross proceeds of C$ 5,800,000. Each Unit consisted of one
common share of the Company and ½ of one common share purchase warrant (each whole warrant a
“Warrant”). Each Warrant entitles the holder to acquire an additional common share at an exercise price
of C$0.55 for a period, subje ct to acceleration, of 24 months from closing of the Placement. Certain
directors and officers of the Company participated in the Placement for an aggregate of 295,924 Units for
proceeds of $112,451.
The net proceeds from the Placement will be used to adv ance the Company’s mineral projects, including
San Javier, Sunnyside, and San Antonio, and for general corporate and working capital purposes. All
shares issued under the first tranche are subject to a four month hold period expiring January 30, 2021. In
connection with the closing of the P lacement, the Company has paid advisory and finders’ fees totaling
$231,896 cash and issued 454,989 non-transferable finder warrants (the “ Finder Warrants”) to certain
registered dealers in accordance with applicable securities laws. Each Finder Warrant entitles the holder to
purchase one common share of the Company on the same terms as the Warrants.
The Company has also completed its initial option payment of C$ 32,500 cash and 2,600,000 common
shares to Tusk Exploration Ltd. in accordance with the terms of its definitive option agreement to acquire a
100% interest in the San Javier de Cobre project in Sonora, Mexico as previously announced on August 6 ,
2020 and September 16, 2020.
The Company expects to close the second and final tranche of the Placement in the amount of C$525,000
shortly.
Barksdale Resources Corp. is a base metal exploration company headquartered in Vancouver, BC, that is
focused on the acquisition, exploration and advancement of highly prospective base metal projects in North
America.
ON BEHALF OF BARKSDALE RESOURCES CORP
Rick Trotman
President, CEO and Director
TSXV: BRO OTCQB: BRKCF
Terri Anne Welyki
Vice President of Communications
778-238-2333
For more information please phone 778-238-2333, email [email protected] or visit
www.BarksdaleResources.com.
Neither the 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 news
release.
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news release
includes “forward -looking information” under applicable Canadian securities legislation including, but
not limited to, the anticipated closing of the second tranche of the Placement . Such forward- looking
information reflects management’s current beliefs and are based on a number of estimates and assumptions
made by and information currently available to the Company that, while considered reasonable, are
subject to known and unknown ri sks, uncertainties, and other factors which may cause the actual results
and future events to differ materially from those expressed or implied by such forward -looking information.
Readers are cautioned that such forward-looking information are neither promises nor guarantees, and are
subject to known and unknown risks and uncertainties including, but not limited to, general business,
economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets,
lack of available capital, actual results of exploration activities, environmental risks, future prices of base
and other metals, operating risks, accidents, labor issues, delays in obtaining governmental approvals and
permits, and other risks in the mining industry. There are no assurances that the Company will successfully
complete the second tranche of the Placement on the terms contemplated or at all. In addition, there is
uncertainty about the spread of COVID-19 and the impact it will have on the Company’s operations, supply
chains, ability to access mineral properties including San Javier, conduct due diligence or procure
equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All
forward-looking information contained in this news release is qualified by these cautionary statements and
those in our continuous disclosure filings available on SEDAR at www.sedar.com . Accordingly, readers
should not place undue reliance on forward- looking information. 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, except as required by law.
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT
SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES
HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN
THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.