Barksdale Announces Closing of $5 Million Private Placement to Advance Sunnyside Exploration Towards 67.5% Ownership

Executive Summary

• Barksdale Resources Corp. closed a private placement of 55,545,744 units at $0.09 per unit, raising gross proceeds of $4,999,117 CAD.
• The funds will finance the Phase II drill campaign at the Sunnyside project, cover the Phase II earn‑in payment to Great Basin Metals Inc., and support ongoing corporate and exploration expenses.
• Additional related financing arrangements were disclosed, including a forthcoming $932,585 CAD private placement with Crescat Capital LLC (8,478,049 units at $0.11 per unit).

Key Details

• Units sold: 55,545,744 units (each = 1 common share + ½ warrant).
• Price per unit: $0.09 CAD.
• Gross proceeds: $4,999,117 CAD.
• Warrant terms: Each whole warrant allows purchase of one common share at an exercise price of $0.15 CAD, exercisable until 19 Feb 2028.
• Use of proceeds:
• Completion of Phase II drilling at the Sunnyside project.
• Payment of Phase II earn‑in to Great Basin Metals Inc.
• Ongoing corporate expenses.
• Funding for geochemical/geophysical studies on Sunnyside and San Javier projects.
• Finder compensation: Medalist Capital Advisors received a 6% commission in the form of 1,434,780 Finder’s units (valued at $0.09 per unit).
• Advisor compensation: Medalist Capital Ltd. received 1,560,000 Advisor’s units (valued at $0.09 per unit).
• Statutory hold period: All securities issued are subject to a hold period expiring 20 Jun 2026 (four months and one day from issuance).
• Regulatory condition: Offering remains subject to final acceptance by the TSX Venture Exchange.
• Related party participation: Insiders participated; transaction exempt from MI 61‑101 valuation/approval thresholds (<25% of market cap). No material change report filed due to timing considerations.
• Future financing (Crescat Capital LLC):
• Planned raise of $932,585 CAD via issuance of 8,478,049 “Investor Units” at $0.11 per unit.
• Each Investor Unit = 1 common share + ½ warrant; warrants exercisable at $0.15 for two years post‑closing.
• Subject to Exchange acceptance.

Notable Quotes

• William Wulftange, CEO & Director: “The closing of this private placement provides the capital needed to advance our Phase II drill program and continue building value for shareholders.”