Barksdale Completes Amendments to Convertible Debentures and Warrants Held by Delbrook Capital Funds Company Issues New Warrants NOTE: All finances in Canadian Dollars
Barksdale Completes Amendments to
Convertible Debentures and Warrants Held by
Delbrook Capital Funds
Company Issues New Warrants
NOTE: All finances in Canadian Dollars unless otherwise stated.
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2026) -
Barksdale Resources
Corp.
(TSXV: BRO) (OTCQB: BRKCF) (FSE: 2NZ) ("Barksdale" or the "Company") announces that it
has received acceptance from the TSX Venture Exchange
("TSX.V")
and has completed the previously
announced amendments to the terms of its secured convertible debentures and associated warrants
held by investment funds (the "Delbrook Capital Funds") managed by Delbrook Capital Advisors Inc.
("Delbrook") (collectively, the "Amendments").
As a result of the Amendments: (i) the maturity date of the secured convertible debentures previously
issued to the Delbrook Capital Funds in the aggregate principal amount of $1,500,000 (the "$1,500,000
Debentures") has been extended from December 31, 2027 to December 31, 2028, and the conversion
price of the $1,500,000 Debentures has been reduced from $0.12 per common share of the Company
(each, a "Share") to $0.10 per Share, (ii) the expiry date of the associated 8,000,000 detachable
common share purchase warrants (the "8,000,000 Extension Warrants") previously issued to the
Delbrook Capital Funds in connection with the issuance of the $1,500,000 Debentures has been
extended from December 31, 2027 to December 31, 2028, and the exercise price of such warrants has
been reduced from $0.12 per Share to $0.10 per Share; (iii) the maturity date of the secured convertible
debentures in the aggregate principal amount of $3,000,000 (the "$3,000,000 Debentures" and
collectively with the $1,500,000 Debentures, the "Convertible Debentures") has been extended from
December 31, 2027 to December 31, 2028; and (iv) the expiry date of the associated 7,500,000
detachable common share purchase warrants (the "7,500,000 Extension Warrants" and collectively with
the 8,000,000 Extension Warrants, the "Warrants") previously issued to the Delbrook Capital Funds in
connection with the issuance of the $3,000,000 Debentures has been extended from December 31,
2027 to December 31, 2028.
All of the Convertible Debentures bear interest at a rate of 10% per annum and continue to be subject to
a holder put right (the "Put Right"), allowing the holders thereof, at their sole discretion, on or after
December 31, 2027, and prior to maturity, to require the Company, upon at least 20 days' written notice,
to repurchase all or part of the outstanding principal amount of such debentures (the "Put Amount") on a
specific date (the "Put Date"), together with all accrued and unpaid interest owing thereon. The expiry
date of the Warrants shall, to the extent proportionate to the principal amount repaid by the Company to
the Delbrook Capital Funds as a result of the exercise of the Put Right, be accelerated to the applicable
Put Date. For greater certainty, if any applicable Put Amount and related accrued and unpaid interest is
not repaid by the Company to the Delbrook Capital Funds on the applicable Put Date, then the expiry
date in respect of only the pro rata number of the Warrants pertaining to the Put Amount actually repaid
by the Company to the Delbrook Capital Funds on such Put Date shall be accelerated to the Put Date,
and all remaining Warrants shall remain outstanding in accordance with their terms.
Further, in consideration for the Delbrook Capital Funds agreeing to the Amendments, the Company has
issued an aggregate of 7,000,000 detachable common share purchase warrants (the "New Warrants")
to the Delbrook Capital Funds. Each New Warrant entitles the holder to acquire one Share at a price of
$0.09 per Share until December 31, 2028.
Other than the Amendments described above, all remaining material terms and conditions of the
Convertible Debentures and the Warrants, continue to remain in full force and effect.
The New Warrants and the Shares issuable upon exercise thereof are subject to a four-month plus one
day hold period in accordance with Canadian securities legislation.
About Barksdale Resources Corp.
At Barksdale, our mission is to drive long-term shareholder value through the strategic acquisition,
exploration, and advancement of high-quality critical, base, and precious metal projects across the
Americas.
We are focused on the metals essential to the global energy transition and modern infrastructure—
particularly copper, zinc, and other critical minerals—at a time when secure, domestic and regional
sources are more important than ever.
With a sharp focus on critical metals and a commitment to responsible growth, Barksdale is positioned
to play a key role in meeting tomorrow's resource needs.
www.BarksdaleResources.com
On Behalf of Barksdale Resources Corp.
William Wulftange
Chief Executive Officer and Director
604-398-5385
Ira M. Gostin
Investor Relations
604-398-5385 x3
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.
The transactions involving the Amendments and the New Warrants as related party transactions are
allowable under MI 61-101 under the financial hardship requirements and are designed to improve the
Company's financial position as determined by the Company's Board of Directors.
Cautionary Statement Regarding Forward-Looking Statements
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 foregoing financing and amendments 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. All forward-looking
statements contained in this news release are qualified by these cautionary statements and those in the
Company's continuous disclosure filings available on SEDAR+ at
www.sedarplus.ca
. Readers should
not place undue reliance on the forward-looking statements 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/280956