Vancouver, British Columbia--(Newsfile Corp. - February 8, 2023) - Barksdale Resources Corp. (TSXV: BRO) (OTCQX: BRKCF) ("Barksdale" or the "Company") is pleased to report that 8,050,287 common share purchase warrants, with an exercise price of $0.55 issued on September 29 and October 1, 2020, have now been exercised prior to their January 31, 2023 expiry. The warrant exercises generated gross proceeds of approximately $4.4 million, with approximately $3.8 million coming from warrant exercises in January 2023. As of February 3, the Company's unaudited cash position is approximately $6.6 million with issued capital of 80,239,886 common shares.
Barksdale CEO Rick Trotman comments, "We would like to thank all of those that exercised their warrants over the past twelve months. Our great shareholder base, including Teck Resources, Delbrook Capital Advisors, US Global Investors, among others, have ensured that the Company is fully funded to execute our fully permitted San Antonio drilling program as well as to initiate drilling at Sunnyside when the final permit is delivered in the next few months."
The Company further announces that it has granted incentive stock options to its directors, employees and consultants, exercisable to purchase up to 1,450,000 common shares in the capital of the Company until February 8, 2026 at an exercise price of $0.74 per share. The incentive stock options were granted in connection with the Company's ordinary course annual compensation process and in accordance with the Company's stock option plan.
Barksdale Resources Corp., a member of the 2023 OTCQX Best 50, is a base metal exploration company headquartered in Vancouver, B.C., that is 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
President, CEO and Director
Terri Anne Welyki
Vice President of Communications
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes "forward-looking information" under applicable Canadian securities legislation including, but not limited to, the expected publication and timing of the commencement of drilling at San Antonio as well as receipt of the permit for, and initiation of drilling at Sunnyside. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and assumptions 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 those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees, and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base metals, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing war in Ukraine and rising inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all and economic activity in general. All forward-looking 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 reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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