Barksdale Resources Corp. (TSXV: BRO,OTC:BRKCF) (OTCQB: BRKCF) (FSE: 2NZ) (“Barksdale” or the “Company”) announces plans to raise $932,585 in a private placement by Crescat Capital LLC (“Crescat”), a strategic investor in the Company, consisting of 8,478,049 common shares in the capital of the Company (the “Units”) at a price of $0.11 per unit (the “Issue Price”) (the “Offering”).
Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each full common share purchase warrant, a “Deposit“). Each Warrant entitles the holder thereof to purchase one common share of the Company at an exercise price of $0.15 for a period of two (2) years following the completion of the Offering.
Proceeds will be used to fund the company’s drilling program at the Sunnyside project.
The company will make a cash equalization payment of $0.02 per unit to Crescat, for a total payment of $169,561. Crescat was entitled to participate in the previously announced $0.09 offer; however, the offer was fully subscribed and no allocation was available.
About Crescat Capital LLC
Crescat is a value-driven asset management company with a global macro-thematic overlay. The goal of the activist metals strategy is to help exploration-oriented mining companies create new economic metal deposits in viable mining jurisdictions around the world. The firm’s investment process includes a mix of asset classes and strategies to help meet each client’s unique needs and objectives and includes Global Macro, Long/Short and Precious Metals funds.
About Barksdale Resources Corp.
At Barksdale, our mission is to enhance long-term shareholder value through the strategic acquisition, exploration and advancement of high-quality critical, base and precious metals projects across America.
We are focusing 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 the resource needs of tomorrow.
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 press release.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements are often, 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” be achieved. All statements, other than statements of historical fact, contained herein, without limitation, statements regarding the prior financings 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 as of the date the statements are made and are based on 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 those 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 in this press release are qualified by these cautionary statements and those in the Company’s ongoing disclosure filings available on SEDAR+ at www.sedarplus.ca. Readers should not place undue reliance on the forward-looking statements contained in this press release on these topics. Barksdale assumes no 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/283534
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