Barksdale receives $1.98M from debt repayment

Feb. 17, 2022 8:25 AM ETBarksdale Resources Corp. (BRKCF), BRO:CABy: Khyathi Dalal, SA News Editor
  • Barksdale Resources (OTCQX:BRKCF) announced that Regal Resources has made a cash payment to Barksdale to fully repay its financial obligations.
  • In total, Regal paid cash totaling $1.9M to the company in full settlement of the Regal Debt including principal, accrued interest and legal expenses.
  • The company's acquisition of the Regal Debt was part of a broader effort by Barksdale last summer to acquire Regal and consolidate the Sunnyside project in Arizona at a value of $0.37/Regal share.
  • The company's offer was subsequently rejected by Regal's shareholders.
  • Barksdale and Regal will continue to move the Sunnyside project forward under the existing 2017 option agreement.
  • The company will utilize the proceeds from repayment of the Regal Debt for general corporate and working capital purposes.

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