Shares of Barksdale Resources Corp (OTCMKTS:BRKCF) have been witnessing selling pressure pver the past week with a fall of 8%.
Market Reaction
On Thursday, BRKCF stock ended flat at $0.2276 with 16k shares, compared to its average volume of 15k shares. The stock has moved within a range of $0.2276 – 0.2276 after opening trade at $0.2214.
Barksdale Secures Funding from Existing Shareholder
Base metal exploration company headquartered in Vancouver, B.C focusing on acquisition, exploration as well as the advancement of metal projects in North America, Barksdale Resources Corp (OTCMKTS:BRKCF) on December 17, 2021, announced non-brokered private placement of $1,750,000 secured convertible debentures. This has been arranged through Delbrook Capital Advisors Inc, an existing shareholder of the Company.
Matthew Zabloski, the Managing Director of Delbrook said that Delbrook is a shareholder of Barksdale since 2017 and it has augmented its equity position in 2020.
Zabloski expressed excitement on continuing as it moves ahead on investment milestones in some months.
Rick Trotman, President, and CEO of Barksdale said that the financing with Delbrook provides liquidity required for further facilitation with projects without any dilution for shareholders at lower prices.
Trotman said that the company is expecting to publish the other drill hole assays from the finished 5,000m drilling program at San Javier, establishing resource calculation at San Javier, reaching a key milestone in Arizona. The CEO added that Delbrook remains one of the biggest and longest-stayed shareholders.
Maturing on December 31, 2022, the debentures have an interest of 10% per annum. The private placement will be subjected to the approval of TSX Venture Exchange and may close in by early January 2022.
Barksdale’s secured debt investment in Regal has a principal of $1,725,000 and is getting interest of 12% annually.
Key Quote
Matthew Zabloski, the Managing Director of Delbrook commented: “Delbrook has been a shareholder of Barksdale since 2017 and subsequently increased its equity position in the Company in 2020. We are excited to continue supporting Barksdale as it approaches key project and investment milestones over the next few months.”
Traders Review
BRKCF stock is trading below the 20-Day and 50-Day Moving averages of $0.26 and $0.29 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.36. The stock is down 21% over the past 3-month.
