Barksdale Finalizes Option Agreement for San Javier
Barksdale Resources Corp. has finalized a definitive option agreement with Tusk Exploration Ltd to acquire the San Javier del Cobre project in Sonora, Mexico. This transaction follows a binding letter agreement dated August 5, 2020, and is expected to close by September 29, 2020, pending customary conditions and TSX Venture Exchange approval. The company, focused on base metal exploration in North America, anticipates closing a related private placement financing at the same time.
- Finalized definitive option agreement to acquire San Javier del Cobre project, strengthening asset portfolio.
- Private placement financing anticipated to close alongside the acquisition, potentially enhancing liquidity and funding for exploration.
- Acquisition and financing are subject to customary closing conditions and TSX Venture Exchange approval, introducing uncertainty.
- Risks associated with forward-looking information regarding completion of the transaction and operational impacts from COVID-19.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / September 24, 2020 / Barksdale Resources Corp. ("Barksdale" or the "Company") (TSXV:BRO)(OTCQB:BRKCF) announces it has signed a definitive option agreement ("Definitive Agreement") with Tusk Exploration Ltd that formalizes the terms agreed to in the binding letter agreement dated August 5, 2020, to acquire the San Javier del Cobre project in Sonora, Mexico ("Transaction") as previously announced on August 6 and September 16, 2020.
With the execution of the Definitive Agreement, the Company anticipates closing the private placement financing announced on August 6 and upsized on September 1 ("Offering"), as well as the Transaction, on or about September 29, 2020. The Offering and Transaction remain subject to customary closing conditions and acceptance of the TSX Venture Exchange.
Barksdale Resources Corp. is a base metal exploration company headquartered in Vancouver, BC, that is focused on the acquisition, exploration and advancement of highly prospective base metal projects in North America.
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 INFORMATION: This news release includes "forward-looking information" under applicable Canadian securities legislation including, but not limited to, the anticipated closing date for the Offering and San Javier Transaction. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees, and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. There are no assurances that the Company will successfully complete the acquisition of San Javier or the Offering on the terms contemplated or at all. In addition, there is uncertainty about the spread of COVID-19 and the impact it will have on the Company's operations, supply chains, ability to access mineral properties including San Javier, procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All forward-looking information contained in this news release is qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
SOURCE: Barksdale Resources Corp.
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FAQ
What is the recent option agreement signed by Barksdale Resources Corp. regarding San Javier del Cobre?
When is Barksdale Resources Corp. expecting to close the transaction for San Javier?
What are the potential benefits of the San Javier project acquisition for BRKCF?
What are the risks associated with Barksdale's acquisition of San Javier?
