Barksdale Announces Replacement Convertible Debentures
Barksdale Resources Corp (TSXV: BRO) (OTCQX: BRKCF) is seeking TSXV approval to modify terms of its $1.5 million convertible debentures held by Delbrook Capital Advisors. The key changes include reducing the conversion price from $0.55 to $0.18 per share and extending the maturity date to December 31, 2025.
The company plans to issue 8 million new detachable common share purchase warrants to Delbrook, replacing 2.77 million expired warrants. The debentures carry a 10% annual interest rate. Additionally, Barksdale proposes a securities-for-debt settlement to resolve $151,643.84 in accrued interest through the issuance of 1,045,819 units at $0.145 per unit. Each unit includes one share and half a warrant exercisable at $0.18 for three years.
Delbrook has granted a payment extension until January 17, 2025, allowing time for TSXV approval and documentation completion.
Barksdale Resources Corp (TSXV: BRO) (OTCQX: BRKCF) sta cercando l'approvazione del TSXV per modificare i termini dei suoi 1,5 milioni di dollari di obbligazioni convertibili detenute da Delbrook Capital Advisors. Le modifiche principali includono la riduzione del prezzo di conversione da 0,55 $ a 0,18 $ per azione e l'estensione della data di scadenza al 31 dicembre 2025.
L'azienda prevede di emettere 8 milioni di nuovi warrant per l'acquisto di azioni ordinarie staccabili a Delbrook, sostituendo 2,77 milioni di warrant scaduti. Le obbligazioni prevedono un tasso d'interesse annuale del 10%. Inoltre, Barksdale propone una risoluzione debito-per-titoli per risolvere 151.643,84 $ di interessi maturati attraverso l'emissione di 1.045.819 unità a 0,145 $ per unità. Ogni unità include un'azione e mezza warrant esercitabile a 0,18 $ per tre anni.
Delbrook ha concesso un'estensione di pagamento fino al 17 gennaio 2025, concedendo tempo per l'approvazione del TSXV e il completamento della documentazione.
Barksdale Resources Corp (TSXV: BRO) (OTCQX: BRKCF) está buscando la aprobación de TSXV para modificar los términos de sus 1.5 millones de dólares en bonos convertibles que posee Delbrook Capital Advisors. Los cambios clave incluyen la reducción del precio de conversión de 0.55 $ a 0.18 $ por acción y la extensión de la fecha de vencimiento hasta el 31 de diciembre de 2025.
La empresa planea emitir 8 millones de nuevos warrants de compra de acciones ordinarias separables a Delbrook, reemplazando 2.77 millones de warrants vencidos. Los bonos devengan un interés anual del 10%. Además, Barksdale propone un acuerdo de deuda por valores para resolver 151,643.84 $ de intereses acumulados mediante la emisión de 1,045,819 unidades a 0.145 $ por unidad. Cada unidad incluye una acción y medio warrant que puede ejercerse a 0.18 $ durante tres años.
Delbrook ha otorgado una extensión de pago hasta el 17 de enero de 2025, permitiendo tiempo para la aprobación de TSXV y la finalización de la documentación.
Barksdale Resources Corp (TSXV: BRO) (OTCQX: BRKCF)는 Delbrook Capital Advisors가 보유한 150만 달러의 전환사채 조건 수정을 위해 TSXV 승인을 요청하고 있습니다. 주요 변경 사항에는 전환 가격을 주당 0.55 달러에서 0.18 달러로 낮추고 만기일을 2025년 12월 31일로 연장하는 것이 포함됩니다.
회사는 Delbrook에 800만 개의 새로운 분리형 보통주 인수 권리를 발행하여 277만 개의 만료된 권리를 대체할 계획입니다. 이 사채는 연 10%의 이자율을 가지고 있습니다. 또한, Barksdale는 151,643.84 달러의 미지급 이자를 해결하기 위해 1,045,819개의 유닛을 주당 0.145 달러에 발행하는 유가증권-부채 정산을 제안합니다. 각 유닛에는 하나의 주식과 0.18 달러에 3년 동안 행사할 수 있는 반개의 워런트가 포함되어 있습니다.
Delbrook은 2025년 1월 17일까지 지급 연장을 허용하여 TSXV 승인 및 문서 완료를 위한 시간을 제공합니다.
Barksdale Resources Corp (TSXV: BRO) (OTCQX: BRKCF) cherche à obtenir l'approbation du TSXV pour modifier les conditions de ses 1,5 million de dollars d'obligations convertibles détenues par Delbrook Capital Advisors. Les principales modifications incluent la réduction du prix de conversion de 0,55 $ à 0,18 $ par action et le prolongement de la date d'échéance jusqu'au 31 décembre 2025.
L'entreprise prévoit d'émettre 8 millions de nouveaux bons de souscription d'actions ordinaires détachables à Delbrook, remplaçant 2,77 millions de bons échus. Les obligations portent un taux d'intérêt annuel de 10 %. De plus, Barksdale propose un règlement de dette par titres pour résoudre 151 643,84 $ d'intérêts courus par l'émission de 1 045 819 unités à 0,145 $ par unité. Chaque unité comprend une action et une demi-option exerçable à 0,18 $ pendant trois ans.
Delbrook a accordé un délai de paiement jusqu'au 17 janvier 2025, permettant le temps nécessaire pour l'approbation du TSXV et l'achèvement de la documentation.
Barksdale Resources Corp (TSXV: BRO) (OTCQX: BRKCF) beantragt die Genehmigung der TSXV zur Änderung der Bedingungen seiner 1,5 Millionen Dollar hohen Wandelanleihen, die von Delbrook Capital Advisors gehalten werden. Zu den wesentlichen Änderungen gehört die Senkung des Umwandlungspreises von 0,55 $ auf 0,18 $ pro Aktie sowie die Verlängerung des Fälligkeitsdatums auf den 31. Dezember 2025.
Das Unternehmen plant die Ausgabe von 8 Millionen neuen abtrennbaren normalen Kaufoptionen für Aktien an Delbrook, um 2,77 Millionen abgelaufene Optionen zu ersetzen. Die Anleihen tragen einen Jahreszinssatz von 10 %. Darüber hinaus schlägt Barksdale eine Schuldenregelung durch Wertpapiere vor, um 151.643,84 $ an aufgelaufenen Zinsen durch die Ausgabe von 1.045.819 Einheiten zum Preis von 0,145 $ pro Einheit zu begleichen. Jede Einheit umfasst eine Aktie und eine halbe Option, die für drei Jahre zu 0,18 $ ausgeübt werden kann.
Delbrook hat eine Zahlungsfrist bis zum 17. Januar 2025 gewährt, um Zeit für die Genehmigung durch die TSXV und den Abschluss der Dokumentation zu ermöglichen.
- Extension of debt maturity to December 31, 2025 provides additional financial flexibility
- Conversion price reduction from $0.55 to $0.18 makes debt conversion more likely
- Significant dilution potential from new warrants and debt conversion at lower price
- High interest rate of 10% per annum on debentures
- Need for debt restructuring indicates potential financial stress
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2025) - Barksdale Resources Corp. (TSXV: BRO) (OTCQX: BRKCF) ("Barksdale" or the "Company") announces that it is seeking TSX Venture Exchange ("TSXV") acceptance for an extension of the maturity date and a reduction of the conversion price of the aggregate
The Debentures bear interest at a rate of
Delbrook has agreed to temporarily waive the payment obligations on the Debentures which were due and payable on December 31, 2024 until January 17, 2025 in order to give the parties time to obtain the requisite approval of the TSXV for the Amendments, the issuance of the New Warrants and the Interest Debt Settlement and to enter into definitive documentation with respect to the Amendments. The Debentures have a remaining principal amount of
All newly issued securities in connection with the above will be subject to a four-month plus one day hold period in accordance with Canadian securities legislation.
Barksdale Resources Corp., a 2023 OTCQX BEST 50 Company, is a base metal exploration company headquartered in Vancouver, B.C., that is focused on the acquisition, exploration and advancement of highly prospective base metal projects in North America. Barksdale is currently advancing the Sunnyside copper-zinc-lead-silver and San Antonio copper projects, both of which are in the Patagonia mining district of southern Arizona, as well as the San Javier copper-gold project in central Sonora, Mexico.
ON BEHALF OF BARKSDALE RESOURCES CORP
Rick Trotman
President, CEO and Director
Rick@barksdaleresources.com
Terri Anne Welyki
Vice President of Communications
778-238-2333
TerriAnne@barksdaleresources.com
For more information please phone 778-558-7145, email info@barksdaleresources.com or visit www.BarksdaleResources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the Debentures, New Warrants, and Interest Debt Settlement, including the related securities, and the requisite approvals in connection therewith, the satisfaction of the conditions to the waiver provided by Delbrook, the timing and completion of the definitive documentation with respect to the Amendments are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Barksdale, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the receipt of all requisite corporate and regulatory approvals in connection with the Debentures, New Warrants, and Interest Debt Settlement, including the ability of the Company to obtain acceptance of the foregoing by the TSXV. All forward-looking statements contained in this news release is qualified by these cautionary statements and those in the Company's continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. Readers should not place undue reliance on the forward-looking statements contained in this news release concerning these items. Barksdale does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236893
FAQ
What are the new terms of BRKCF's convertible debentures with Delbrook Capital?
How many new warrants is BRKCF issuing to Delbrook Capital?
How is BRKCF settling its accrued interest debt with Delbrook?
What is the total principal amount of BRKCF's convertible debentures with Delbrook?
