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Financings

Barksdale to extend debentures held by Delbrook to 2028

By The Northwire Desk — AI Analysis Jan 08, 2026 · 04:57 BRO · 0.09 Barksdale Resources Corp.
BRO · Price

Executive Summary

  • Barksdale Resources Corp. is amending the terms of existing convertible debentures held by Delbrook Capital Advisors to extend maturity dates and reduce conversion/exercise prices, in exchange for issuing additional warrants.
  • The restructuring involves two tranches of secured convertible debentures totaling $4.5 million in principal amount, with maturities extended from December 31, 2027, to December 31, 2028.
  • As consideration for the amendments, Barksdale will issue 7 million new detachable common share purchase warrants to Delbrook, exercisable at $0.09 per share until December 31, 2028.

Key Details

  • Amendment to $1.5 Million Debenture Tranche:
    • Maturity Extension: Extended from December 31, 2027, to December 31, 2028.
    • Conversion Price Reduction: Reduced from $0.12 per share to $0.10 per share.
    • Associated Warrants: The 8 million existing detachable common share purchase warrants have their expiry date extended from December 31, 2027, to December 31, 2028, and their exercise price reduced from $0.12 per share to $0.10 per share.
    • Interest Rate: 10% per annum.
  • Amendment to $3 Million Debenture Tranche:
    • Maturity Extension: Extended from December 31, 2027, to December 31, 2028.
    • Associated Warrants: The 7.5 million existing detachable common share purchase warrants have their expiry date extended from December 31, 2027, to December 31, 2028.
    • Interest Rate: 10% per annum.
  • New Warrant Issuance (Consideration):
    • Quantity: 7 million detachable common share purchase warrants.
    • Exercise Price: $0.09 per share.
    • Expiry Date: December 31, 2028.
  • Put Rights:
    • Both the $1.5M and $3M debentures are subject to a holder put right allowing Delbrook to require repurchase on or after December 31, 2027, prior to maturity, with at least 20 days' written notice.
    • If a put is exercised, the expiry date of the proportionate number of detachable warrants pertaining to the repaid principal is accelerated to the put date.
  • Regulatory Conditions:
    • Amendments and new securities are subject to TSX Venture Exchange acceptance.
    • Securities issued are subject to a four-month-plus-one-day hold period under Canadian securities legislation.
Read the original news release →

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