- Barksdale (BRO) has closed a C$1,750,000 non-brokered private placement
- The company sold secured convertible debentures bearing interest at 10 per cent per year
- It will use the proceeds for general corporate and working capital purposes
- Barksdale Resources is advancing the Sunnyside copper-zinc-lead-silver and San Antonio copper projects in Arizona, as well as the San Javier copper-gold project in Mexico
- Barksdale (BRO) is unchanged trading at $0.28 per share
Barksdale (BRO) has closed a C$1,750,000 non-brokered private placement.
It sold secured convertible debentures arranged through Delbrook Capital Advisors, a Barksdale shareholder.
The debentures bear interest at 10 per cent per year and are secured by the company’s present and after-acquired personal property, as well as a pledge of shares over IC Exploration, a wholly owned subsidiary.
The debt instruments mature on December 31, 2022, and are convertible into common shares prior to maturity at $0.45 per share.
The company will use the proceeds for general corporate and working capital purposes.
Barksdale Resources is advancing the Sunnyside copper-zinc-lead-silver and San Antonio copper projects in Arizona, as well as the San Javier copper-gold project in Mexico.
Barksdale (BRO) is unchanged trading at $0.28 per share as of 2:18 pm EST.
