Barksdale Announces Shares for Debt Transaction

Executive Summary

• Barksdale Resources Corp. completed a securities‑for‑debt settlement with Delbrook Resource Opportunities Master Fund LP and Delbrook Resource Opportunities Fund LP, converting $1.5 M of secured convertible debentures and issuing 3,904,110 common shares at an implied price of $0.09 per share.
• The transaction also involved the issuance of a senior secured convertible debenture for $3 M; interest accrued to date totals $351,369.87, which was settled via the share issuance.
• All newly issued shares are subject to TSX Venture Exchange approval and a four‑month hold period.

Key Details

• Debt Instruments Settled:
• $1,500,000 secured convertible debentures (issued Jan 25 2022).

• $3,000,000 senior secured convertible debenture (amended Jan 9 2026).

• Interest Owed (as of Dec 21 2025):

• $201,369.87 on the $3 M debentures.

• $150,000.00 on the $1.5 M debentures.

• Total Settlement Amount: $351,369.87 in accrued interest.

• Share Issuance to Creditors: 3,904,110 common shares at a deemed price of $0.09 per share.

• Delbrook Resource Opportunities Master Fund LP received 3,485,921 shares.

• Delbrook Resource Opportunities Fund LP received 418,189 shares.

• No New Insider/Control Person Created as a result of the transaction.

• Regulatory Conditions:

• Issuance pending final approval by the TSX Venture Exchange.
• Shares subject to a four‑month hold period (expires four months and one day from issuance date).

Notable Quotes

• William Wulftange, CEO & Director: “We are pleased to complete this settlement, which streamlines our capital structure while preserving shareholder value.”