Barksdale Clarifies Amendment to Certain Outstanding Warrants Held by Delbrook Capital Funds

Executive Summary

• Barksdale Resources Corp. clarifies that only the 3,500,000 outstanding warrants (out of the original 7,500,000) will have their expiry extended from 31 Dec 2027 to 31 Dec 2028 under the Extension and Amendment Agreement with Delbrook Capital Funds.
• The amendment does not alter any other material terms of the secured convertible debentures or the warrants.
• The transaction is treated as a related‑party transaction but falls below the 25 % market‑cap threshold, so no formal valuation or minority‑shareholder approval was required.

Key Details

• Amendment Scope: Extension and amendment agreement modifies only the expiry date of the remaining 3,500,000 warrants; all other terms of the convertible debentures and warrants remain unchanged.
• Warrant Exercise History: 4,000,000 of the original 7,500,000 warrants were exercised in October 2025 prior to the amendment.
• Outstanding Warrants: 3,500,000 warrants remain outstanding; expiry extended from 31 Dec 2027 → 31 Dec 2028 (the “Warrant Extension”).
• Original Release Correction: The January 20 2026 release incorrectly stated that all 7,500,000 warrants were being extended. This clarification limits the extension to only the outstanding 3,500,000 warrants.
• Related‑Party Transaction Status: Considered a related‑party transaction under MI 61‑101; exemption applied because fair market value of securities involved is < 25 % of Barksdale’s market capitalization.
• No Other Changes: All remaining material terms and conditions of the secured convertible debentures and associated warrants continue in full force and effect.

Notable Quotes

(None provided in the release)