Barksdale Resources Announces "Best Efforts" Private Placement of a Minimum of $2.0 Million of Units
Barksdale Resources Announces "Best
Efforts" Private Placement of a Minimum of
$2.0 Million of Units
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2023) - Barksdale Resources Corp.
(TSXV: BRO) (OTCQX: BRKCF) ("
Barksdale
" or the "
Company
") is pleased to announce that it has
entered into an agreement pursuant to which Cormark Securities Inc., as sole Agent (the "
Agent
"), has
agreed to sell, on a "best efforts" private placement basis, a minimum of approximately 5,000,000
common share units in the capital of the Company (the "
Units
") at a price of $0.40 per Unit (the "
Issue
Price
") for gross proceeds of $2.0 million (the "
Offering
").
Each Unit will be comprised of one common share of the Company and one-half of one common share
purchase warrant (each whole common share purchase warrant, a "
Warrant
").
Each Warrant will entitle
the holder thereof to purchase one common share of the Company at an exercise price of $0.60 for a
period of three (3) years following the closing of the Offering.
In connection with the offering, the Company shall pay a cash commission and broker warrants
exercisable at the Issue Price for a term of three (3) years.
The net proceeds of the Offering will be used for property maintenance payments, trade payables and for
general corporate purposes.
The Offering is expected to close on or about December 29, 2023, or such other date as the Company
and the Agent may agree and is subject to certain conditions including, but not limited to, the receipt of
all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange.
Subject to compliance with applicable regulatory requirements and in accordance with National
Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Units will be offered for sale to purchasers
resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption
under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). Because the Offering is being
completed pursuant to the Listed Issuer Financing Exemption, the securities issued to Canadian
resident subscribers in the Offering will not be subject to a hold period pursuant to applicable Canadian
securities laws.
There is an offering document related to the Offering that can be accessed under the Company's profile
at
www.sedarplus.ca
and on the Company's website at
www.barksdaleresources.com
. Prospective
investors should read this offering document before making an investment decision.
FOR ADDITIONAL INFORMATION
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 and Forward-Looking Statements
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be
any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful, including any of the securities in the United States of America.
The securities have not been
and will not be registered under the
United States Securities Act of 1933
, as amended (the "1933 Act")
or any state securities laws and may not be offered or sold within the United States or to, or for account
or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the
1933 Act and applicable state securities laws, or an exemption from such registration requirements is
available.
This news release includes certain forward-looking statements concerning the use of proceeds of the
Offering, the reliance on the Lister Issuer Financing Exemption, the future performance of our business,
its operations and its financial performance and condition, as well as management's objectives,
strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as
"may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future
events and results. Forward-looking statements are based on the current opinions and expectations of
management. All forward-looking information is inherently uncertain and subject to a variety of
assumptions, risks and uncertainties, including the speculative nature of mineral exploration and
development, fluctuating commodity prices, competitive risks and the availability of financing, as
described in more detail in our recent securities filings available at
www.sedarplus.ca
. Actual events or
results may differ materially from those projected in the forward-looking statements and we caution
against placing undue reliance thereon. . We assume no obligation to revise or update these forward-
looking statements except as required by applicable law.
Not for distribution to United States newswire services or for dissemination in the United
States
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/191912