Key Highlights:
- Barksdale Resources (BRKCF, Financial) secures CDN$3,000,000 via convertible debentures from Delbrook Capital.
- Debentures to mature on December 31, 2027, with a conversion price of CDN$0.12 per share and 10% annual interest.
- Funds earmarked to secure a 51% stake in the Sunnyside project, with CDN$1,000,000 allocated for exploration.
Barksdale Resources Corp. (BRKCF) has successfully closed a CDN$3,000,000 secured convertible debenture offering with Delbrook Capital Advisors. These debentures, due on December 31, 2027, can be converted to common shares at CDN$0.12 each and carry an annual interest rate of 10%. Delbrook Capital has the option to require debenture repurchase post-December 31, 2026, with 20 days' notice.
In parallel, Barksdale extended the maturity of its existing CDN$1,500,000 convertible debentures and 8,000,000 warrants to the same 2027 date, along with issuing 7,500,000 new warrants. Each warrant is exercisable at the same CDN$0.12 per share conversion rate.
The proceeds are strategically directed to advance Barksdale’s 51% interest acquisition in the Sunnyside project located in Arizona. Specifically, CDN$1,000,000 is designated for exploration and further earn-in obligations, facilitating Barksdale’s long-term growth objectives in this strategically important mining region. To facilitate the transaction, a finder's fee of 1,200,000 shares was issued to Medalist Capital Advisors.
