NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
BARKSDALE CLOSES PRIVATE PLACEMENT AND INITIAL OPTION PAYMENT TO REGAL
October 5, 2017 – Vancouver, B.C. – Barksdale Capital Corp. (TSX-V: BRO.H) (“Barksdale” or the “Company”) is pleased to announce that further to its news releases dated August 15, 2017 and October 3, 2017, the Company has completed its non-brokered private placement financing of 13,530,000 common shares at a price of $0.40 per share for gross proceeds of $5,412,000 (the “Financing”). Certain directors, officers and insiders of the Company participated in the Financing for an aggregate of 1,225,000 shares for gross proceeds of $490,000.
The Company has also completed its initial option payment of $650,000 cash and 1,250,000 common shares to Regal Resources Inc. (“Regal”) pursuant to the Company’s option (the “Option”) to acquire up to a 67.5% undivided interest in Sunnyside property located in Santa Cruz County, Arizona (the “Sunnyside Property”) as announced August 15, 2017. Pursuant to the option agreement, the Company has also issued into escrow the next option payment of 3,850,000 common shares to Regal, which shares will be cancelled and returned to treasury if the Company determines not to proceed with the Option after completing its initial exploration of the Sunnyside Property. The Company has one year following receipt of all necessary governmental approvals and permits including drill permits to complete an initial exploration program of $3,000,000 on the Sunnyside Property.
Finder’s fees totaling $123,000 cash and 307,500 finder’s warrants are payable in connection with the Financing, each finder’s warrant entitling the holder to purchase one common share of the Company at a price of $0.40 for a period of two years from closing.
All common shares issued in connection with the Financing and the Option are subject to a four month hold period expiring February 6, 2018.
ABOUT BARKSDALE CAPITAL CORP. – Barksdale Capital Corp. is focused on the acquisition and exploration of highly prospective precious and base metal projects in the United States.
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 news release.
On behalf of the Board of Directors of Barksdale Capital Corp.,
Richard Silas, President and Director
FOR FURTHER INFORMATION PLEASE CONTACT: Richard Silas President Tel: 778-588-7139 Email: email@example.com