Barksdale Secures Funding from Existing Shareholder
TSXV: BRO OTCQX: BRKCF
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES
Barksdale Secures Funding from Existing Shareholder
Vancouver, B.C. – December 17, 2021 - Barksdale Resources Corp. (“Barksdale” or the “ Company”)
(TSXV: BRO) (OTCQX: BRKCF) is pleased to announce a non-brokered private placement of $1,750,000
secured convertible debentures (the “Debentures”) arranged through Delbrook Capital Advisors Inc.
(“Delbrook”), an existing shareholder of the Company.
Matthew Zabloski, the Managing Director of Delbrook commented: “Delbrook has been a shareholder of
Barksdale since 2017 and subsequently increased its equity position in the Company in 2020. We are
excited to continue suppor ting Barksdale as it approaches key project and investment milestones over the
next few months.”
Rick Trotman, President and CEO of Barksdale commented: “ With major milestones occurring in the first
half of 2022, this financing with Delbrook gives us th e liquidity necessary to keep moving our projects
forward without diluting our shareholders at lower prices. By the end of April 2022, we expect to publish
the remaining drill hole assays from the recently completed 5,000m drilling program at San Javier, establish
an initial resource calculation at San Javier, reach key permitting milestones in Arizona, and have a clear
outcome regarding our debt investment in Regal Resources . Delbrook is one of Barksdale’s largest and
longest tenured shareholders and this financing shows a clear commitment to our corporate strategy.”
The Debentures will mature on December 31, 2022, and bear interest at a rate of 10% per annum. The
principal amount of the Debenture is convertible, at the election of the holders, into common shares of the
Company at a conversion price of C$0. 45 per common share, representing a 47% premium to the
Company’s 10 -day VWAP . Interest on the Debentures will be payable in cash on maturity, including
interest to maturity on any debentures converted early, which early converted debenture interest will be
payable, at the election of the holders , in either cash o r common shares of the Company. A 2%
establishment fee will be paid on the Debentures. The private placement is subject to the approval of the
TSX Venture Exchange and is expected to close in early January 2022.
The Debentures will be secured by Barksdale’s secured debt investment in Regal Resources as well as a
pledge of shares over the Company’s wholly owned subsidiary that holds the San Antonio, Goat Canyon,
and Canelo properties in Arizona. Barksdale’s secured debt investment in Regal has a principal amount of
$1,725,000 and continues to accrue interest at 12% per annum.
The net proceeds from the private placement will be used for general corporate and working capital
purposes and all securities issued thereund er will be subject to a four month hold period from the date of
closing.
TSXV: BRO OTCQX: BRKCF
Barksdale Resources Corp . is a base metal exploration company headquartered in Vancouver, B.C.
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 and San Antonio copper
projects, both of which are in the Patagonia mining district of southern Arizona, as well as the San Javier
copper-gold project in central Sonora, Mexico.
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 778-238-2333, 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.
This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities 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 or to or for the account or benefit of a U.S. person (as defined in
Regulation S under the U.S. Securities Act) unless registered under the U.S. Sec urities Act and applicable
state securities laws or an exemption from such registration is available.
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING STATEMENTS AND
INFORMATION: This news release includes forward -looking statements and information under
applicable securities legislation including, but not limited to, the total funds to be raised under
the private placement, the terms of the Debentures, the proposed closing date and the use of
proceeds therefrom, the ability of Barksdale to achieve certain major milestones as noted in
the news release and the timing thereof including the verification or replacement of historic
estimates at San Javier as current resources, the anticipated receipt and timing of key
governmental and third par ty approvals and permits in Arizona and the Company’s
anticipated clarity regarding its debt investment in Regal Resources . Such forward -looking
statements and information reflect management’s current beliefs and are based on a number
of estimates and assu mptions made by and information currently available to the Company
that, while considered reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future events to differ materially
from th ose expressed or implied by such forward -looking statements and information.
Readers are cautioned that such forward -looking statements and information is neither a
promise nor guarantee, and is subject to known and unknown risks and uncertainties
including, but not limited to, market conditions, lack of available capital or financing, currency
rate fluctuations, delays in obtaining governmental or third party approvals and permits,
actual results of exploration activities, unanticipated geologic formations , structures and
characteristics, environmental risks, future prices of base and other metals, operating risks,
TSXV: BRO OTCQX: BRKCF
accidents, labor issues, and other risks in the mining industry as well as general business,
economic, competitive, political and social uncertainties, and volatile and uncertain equity,
debt and capital markets . There are no assurances that the Company will complete the
Debenture offering on the terms contemplated or at al l. In addition, there is uncertainty
about the spread of COVID -19 and variants of concern and the impact they will have on the
Company’s operations, supply chains, ability to access mineral properties, conduct due
diligence or procure equipment, contractor s and other personnel on a timely basis or at all ;
market conditions ; availability of financing ; and economic activity in general. All forward -
looking statements and 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 rel iance on forward -looking
statements and information. Such information and statements are made as of the date hereof
and the Company disclaims any intention or obligation to update or revise any forward -
looking statements or information, whether as a result of new information, future events or
otherwise, except as required by law.