Badlands arranges $2-million private placement

Executive Summary

• Badlands Resources Inc. announced a non‑brokered private placement of up to 13,333,334 units at $0.15 per unit, targeting gross proceeds of up to $2 million.
• Each unit consists of one common share and one transferable warrant exercisable at $0.25 per share for two years; securities will be subject to a hold period of four months and one day.
• Net proceeds are earmarked to extinguish debt, fund exploration on existing properties, acquire new properties, and provide general working capital.

Key Details

• Placement Size: Up to 13,333,334 units (each unit = 1 common share + 1 warrant).
• Issue Price: $0.15 per unit; total gross proceeds up to $2,000,000.
• Warrant Terms: One transferable share purchase warrant per unit, exercisable at $0.25 per share for a period of two years from issuance.
• Hold Period: Securities subject to a lock‑up expiring four months and one day after issue date.
• Use of Proceeds:
• Debt extinguishment.
• Exploration work on Badlands’ existing exploration properties.
• Acquisition of new property interests.
• General working capital.
• Regulatory Conditions: Completion contingent upon TSX‑V approval and other regulatory clearances; closing expected “as soon as practicable” in one or more tranches.
• Finder’s Fees: May be payable per TSX Venture Exchange policies.

Notable Quotes

(No direct quotes provided in the release.)