PR-Inside.com: 2014-04-02 22:45:14
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Prince George, British Columbia CANADA, April 02, 2014 /FSC/ - Barker Minerals Ltd. (BML - TSX Venture), ("Barker" or the "Company") announces that it has closed on the non-brokered private placement ("Private Placement") of 5,000,000 units ("Units") at a price of $0.05 per Unit for gross proceeds of up to $250,000 that was previously announced on February 17, 2014. Each Unit will consist of one common share in the capital of the Company ("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.05 in the first and second year following the date of closing (the "Closing Date") and $0.10 in the third, fourth and fifth year following the Closing Date. An Insider of the Company acquired 100% of the private placement.
The proceeds received from the sale of the Units will be used to fund work programs on the Company's properties and for general working capital, including the payment of outstanding accounts payable and the consideration of the next steps to be taken in connection with its Pro Long Strategy in light of Dr. Suzanne Trimbath's independent report which was summarized in Barker News Release BM-12-217 on January 21, 2013. (BM-12-217)( www.barkerminerals.com/s/NewsReleases.asp?ReportID=567797&_Type= ..
All of the securities issued are subject to a regulatory hold period that expires on August 2, 2014.
About Barker Minerals
Barker Minerals is advancing exploration on its mineral properties in the Cariboo Gold District, one of the most mineralized belts in British Columbia. The Company has more than 20 projects on its exploration properties, all of which are 100% owned by Barker Minerals. Eight projects have drill-ready gold and/or massive sulphide targets.
Certain statements in this press release may be considered forward-looking information, including those relating to "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors -- including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirement of such Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
FOR FURTHER INFORMATION PLEASE VISIT OUR WEBSITE WWW.BARKERMINERALS.COM OR CONTACT:
Louis E. Doyle
Tel: (250) 563-8752
Fax: (250) 563-8751
Robert H. Kuhl
Tel: (604) 321-0709
Fax: (604) 321-0719
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 release.
To view the press release as a PDF, please click on the following link:
Source: Barker Minerals Ltd. (BML - TSX-V)
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