- Barksdale Resources Corp. (BRO) has extended the maturity date of the debentures administered by Delbrook Capital Advisors until December 31, 2023
- The debentures have a remaining principal amount of $1,500,000
- All other terms of the debentures remain unchanged except for the conversion price, which has increased to $0.55 per share from $0.45 per share
- Barksdale Resources Corp. is a base metal exploration company focused on the acquisition, exploration and advancement of highly prospective base metal projects
- Barksdale Resources Corp. was unchanged at $0.65 at 12:57 PM ET
Barksdale Resources (BRO) has extended the maturity date of the debentures administered by Delbrook Capital Advisors until December 31, 2023.
The debentures have a remaining principal amount of $1,500,000.
All other terms of the debentures remain unchanged except for the conversion price, which has increased to $0.55 per share from $0.45 per share.
In addition, Delbrook and the company have agreed to a debt-for-equity plan whereby approximately $99,166 of accrued interest will be exchanged for 206,595 units of the company.
Each unit will consist of one common share of Barksdale and one-half of one common share purchase warrant.
Each warrant shall entitle the holder to acquire one common share at a price of $0.72 for a period of three years from the date of issuance.
Any subsequent interest accrued under the debentures shall be payable in cash in accordance with the terms and conditions of the Debentures.
In exchange for extending the debentures, the company has agreed to an extension fee of 2,777,777 common share purchase warrants, exercisable at a price of $0.72 for a period lasting up to December 31, 2023.
Barksdale Resources Corp. is a base metal exploration company focused on the acquisition, exploration and advancement of highly prospective base metal projects in North America.
Barksdale Resources Corp. was unchanged at $0.65 at 12:57 PM ET.
