Barksdale Announces Closing of Crescat Private Placement

Rhea-AI Summary

Barksdale Resources (OTCQB: BRKCF) closed a private placement with Crescat Capital on March 19, 2026, issuing 8,478,049 Units at $0.09 per Unit for gross proceeds of $763,024.41 CAD. Each Unit includes one common share and one-half warrant; each whole warrant is exercisable at $0.15 for two years.

The securities are subject to a statutory hold period of four months plus one day. Crescat’s participation was treated as a related party transaction but exempt from full MI 61-101 valuation and minority approval requirements. Proceeds are for ongoing corporate expenses; no finder’s fee was paid.

Positive

• Raised $763,024 CAD through the Crescat private placement
• Strategic investor Crescat participation signals external support
• No finder’s fee reduced transaction costs

Negative

• Issued 8,478,049 shares causing potential immediate dilution
• Warrants exercisable at $0.15 could dilute if fully exercised within two years
• Statutory hold restricts trading for four months and one day

NOTE: All figures are in Canadian Dollars unless otherwise stated.

Vancouver, British Columbia--(Newsfile Corp. - March 19, 2026) - Barksdale Resources Corp. (TSXV: BRO) (OTCQB: BRKCF) (FSE: 2NZ) ("Barksdale" or the "Company") is pleased to announce the closing of its private placement with Crescat Capital LLC ("Crescat"), a strategic investor in Barksdale, consisting of 8,478,049 common share units in the capital of the Company (the "Units") which were priced at $0.09 per Unit for gross proceeds of $763,024.41 (the "Offering").

Each Unit comprised one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company at an exercise price of $0.15 for a period of two (2) years. No finder's fee was payable in connection with the Offering.

The Offering was initially announced by the Company in a news release on March 10, 2026. All securities issued or issuable in connection with the Offering are subject to a statutory hold period expiring four months and one day from the date of issuance. Use of proceeds includes funding for on-going corporate expenses.

Crescat's participation in the Offering constituted a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders, exceeded 25% of the Company's market capitalization.

About Crescat Capital LLC
Crescat is a value-driven asset management firm with a global macro thematic overlay. The goal of its activist metals' strategy is to help exploration-focused mining companies create new economic metal deposits in viable mining jurisdictions around the world. The firm's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives and includes Global Macro, Long/Short, and Precious Metals funds.

About Barksdale Resources Corp.
At Barksdale, our mission is to drive long-term shareholder value through the strategic acquisition, exploration, and advancement of high-quality critical, base, and precious metal projects across the Americas.

We are focused on the metals essential to the global energy transition and modern infrastructure—particularly copper, zinc, and other critical minerals—at a time when secure, domestic and regional sources are more important than ever.

With a sharp focus on critical metals and a commitment to responsible growth, Barksdale is positioned to play a key role in meeting tomorrow's resource needs.

On Behalf of Barksdale Resources Corp.
William Wulftange
Chief Executive Officer and Director

Ira M. Gostin Investor Relations
ir@barksdaleresources.com
604-398-5385 x3

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 use of proceeds, 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. All forward-looking statements contained in this news release are 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/289283

FAQ

How much did Barksdale (BRKCF) raise from the Crescat private placement on March 19, 2026?

Barksdale raised $763,024.41 CAD from the Crescat private placement. According to the company, the financing sold 8,478,049 Units at $0.09 per Unit to Crescat on March 19, 2026, with proceeds to fund ongoing corporate expenses.

What did each Unit include in the BRKCF Crescat offering and what are the warrant terms?

Each Unit included one common share and one-half of a warrant, equating to one whole warrant per two Units. According to the company, each whole warrant is exercisable at $0.15 for a period of two years from issuance.

Is Crescat’s participation in Barksdale’s private placement a related party transaction for BRKCF?

Yes, Crescat’s participation constituted a related party transaction under MI 61-101. According to the company, the participation was exempt from formal valuation and minority approval because it did not exceed 25% of market capitalization.

Are the securities issued in the BRKCF Crescat placement subject to any hold period?

Yes, all securities issued or issuable are subject to a statutory hold period expiring four months and one day from issuance. According to the company, this restricts resale of the shares and warrants during that period.

How will the Crescat private placement proceeds be used by Barksdale (BRKCF)?

Proceeds will be used to fund ongoing corporate expenses. According to the company, the net proceeds of the offering are intended for general corporate purposes rather than a specific project or acquisition at this time.