Barksdale closes $5 million private placement for Sunnyside project

Barksdale Resources Corp. (TSXV: BRO) (OTCQB: BRKCF) (FSE: 2NZ) completed a private placement raising $4,999,117 through the sale of 55,545,744 units at $0.09 per unit, according to a company statement.

Each unit consists of one common share and half of one warrant. The warrants allow holders to purchase additional common shares at $0.15 until February 19, 2028.

The company will use proceeds to fund Phase II drilling at its Sunnyside project and cover the Phase II earn-in payment to Great Basin Metals Inc. Additional funds will support corporate expenses and geochemical or geophysical projects under review for the Sunnyside and San Javier projects.

Medalist Capital Advisors Inc. served as the exclusive finder and received a 6% commission of 1,434,780 finder's units. The company also paid an advisory fee to Medalist Capital Ltd. in the form of 1,560,000 units.

All securities from the offering are subject to a statutory hold period until June 20, 2026. The transaction requires final acceptance from the TSX Venture Exchange.

Company insiders participated in the offering, constituting a related party transaction under Multilateral Instrument 61-101. The participation was exempt from formal valuation and minority shareholder approval requirements as it did not exceed 25% of the company's market capitalization.

Barksdale plans an additional private placement with strategic investor Crescat Capital LLC to raise $932,585 through 8,478,049 units at $0.11 per unit. Each unit will include one common share and half of one warrant exercisable at $0.15 for two years. This second offering remains subject to exchange acceptance.

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