Barksdale plans C$14M placement, name change, and leadership overhaul

Barksdale Resources Corp. (TSXV: BRO) (OTCQB: BRKCF) announced a series of corporate changes, including a C$14.0 million non-brokered private placement, new executive appointments, a proposed name change, and a debt settlement agreement, according to a company statement.

The private placement consists of up to approximately 77,777,777 units priced at C$0.18 per unit, with each unit comprising one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable at C$0.30 per share for two years following closing. Crescat Portfolio Management LLC holds a participation right to maintain its pro-rata ownership, provided it holds more than 2% of outstanding shares. Closing requires minimum gross proceeds of C$12.6 million and TSX Venture Exchange approval.

The company appointed George Ogilvie as chairman and Chris Stewart as president and chief executive officer, both effective September 21, 2026. David Birch was also appointed chief financial officer on the same date. Outgoing CEO William Wulftange will remain on the management team through December 31, 2026, and retain his board seat.

Barksdale intends to settle C$5,437,500 in convertible debenture principal, accrued interest, and additional rights owed to Delbrook Resource Opportunities Master Fund LP and Delbrook Resource Opportunities Fund by issuing 40,000,000 common shares and 5,208,333 units on the same terms as the private placement. Upon completion, Delbrook Capital Advisors Inc. is expected to control more than 10% of the company's outstanding common shares.

The company proposes to change its name to Arizona Standard Copper Inc. and to consolidate its common shares on a 10-for-1 basis, subject to TSXV and shareholder approval at an annual general and special meeting expected in mid-November 2026. The company currently has 234,867,510 common shares outstanding. Post-consolidation, that figure would fall to approximately 23,486,751 shares, excluding shares to be issued under the placement and debt settlement.

David Lotan and Travis Snider have been proposed as director nominees for the upcoming shareholder meeting. If elected, Lotan would serve as lead director.

Proceeds from the placement are intended to fund a phased 16,000-meter diamond core drilling program at the company's 67.5%-owned Sunnyside project in Arizona's Patagonia mining district.

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