Barksdale Announces All Existing Convertible Debentures Held by Delbrook Capital Advisors Extended to December 31, 2028

Executive Summary

• Barksdale Resources Corp. is seeking TSX Venture Exchange approval to amend its existing convertible debentures and associated warrants with Delbrook Capital Advisors.
• The amendments extend maturity dates to December 31 2028, lower conversion/exercise prices to $0.10 (and $0.09 for new warrants), and add 7 million new detachable common share purchase warrants.
• Existing interest rates remain at 10% per annum; holder put rights and other material terms are unchanged aside from the extensions.

Key Details

• Existing Debentures:
• $1,500,000 secured convertible debenture – maturity extended to 31 Dec 2028; conversion price reduced from $0.12 to $0.10 per share.
• $3,000,000 secured convertible debenture – maturity extended to 31 Dec 2028; conversion price unchanged at $0.12 (subject to amendment).
• Associated Warrants:
• 8,000,000 detachable common share purchase warrants (linked to the $1.5M debentures) – expiry extended to 31 Dec 2028; exercise price reduced to $0.10 per share.
• 7,500,000 detachable common share purchase warrants (linked to the $3M debentures) – expiry extended to 31 Dec 2028; exercise price reduced to $0.10 per share.
• New Warrants Issuance:
• 7,000,000 new detachable common share purchase warrants to be issued to Delbrook as consideration for the amendments.
• Each new warrant allows acquisition of one share at $0.09 per share, exercisable until 31 Dec 2028.
• Interest Rate & Put Rights:
• Both debentures bear interest at 10% per annum.
• Holder put right remains: Delbrook may require repurchase of all or part of the principal after 31 Dec 2027 with ≥20 days’ notice, triggering accelerated expiry of proportional warrants.
• Regulatory Conditions:
• Amendments and new securities are subject to TSXV acceptance and will be subject to a four‑month plus one day hold period under Canadian securities legislation.
• Company Overview (retained for context): Barksdale focuses on base‑metal projects in Arizona (Sunnyside, San Antonio) and Sonora, Mexico (San Javier).

Notable Quotes

• “On behalf of Barksdale Resources Corp., William Wulftange, Chief Executive Officer and Director.” (Signature line)