Barksdale closes C$13.2M private placement tranche, settles debt

Barksdale Resources Corp. (TSXV: BRO) (OTCQB: BRKCF) closed the first tranche of a non-brokered private placement, raising gross proceeds of C$13,179,020 through the issuance of 73,216,777 units priced at C$0.18 per unit, according to a company statement.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to purchase one common share at C$0.30 until October 8, 2028.

Company insiders participated in the first tranche, purchasing an aggregate of 13,164,089 units for gross proceeds of C$2,369,536. Participants included Medalist Capital Ltd., Chairman George Ogilvie, CEO Chris Stewart, CFO David Birch, and Director Darren Blasutti.

Barksdale also completed a debt settlement by issuing 40,000,000 common shares and 5,208,333 units to Delbrook Resource Opportunities Master Fund LP and Delbrook Resource Opportunities Fund, eliminating what the company described as all significant debt from its balance sheet.

The company said it intends to use net proceeds to fund a phased 16,000-meter diamond core drilling program at its 67.5%-owned Sunnyside Porphyry Deposit in Arizona, beginning with an initial 8,000-meter program. A ZTEM geophysical study on the Sunnyside and Four Metals properties is also planned.

All securities issued are subject to a four-month hold period expiring February 9, 2027. Barksdale expects to close the second and final tranche of the offering, which has a total target of up to C$14.0 million, in mid-October 2026. The offering and debt settlement remain subject to final acceptance by the TSX Venture Exchange.

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