FSC / Press Release
Barker Minerals Announces Non-Brokered Private Placement and Grant of Options
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES
Prince George, British Columbia CANADA, February 06, 2013 /FSC/ - Barker
Minerals Ltd. (BML - TSX Venture), ("Barker" or the "Company") announces that it
intends to complete a non-brokered private placement (the "Private Placement")
of up to 10,000,000 units (the "Units") at a price of $0.05 per Unit for gross
proceeds of up to $500,000. Each Unit will consist of one common share in the
capital of the Company ("Common Share") and one half of a common share purchase
warrant ("Warrant"). Each whole Warrant will entitle the holder to acquire one
additional Common Share at any time on or before the date which is five years
from the date of closing of the Private Placement at an exercise price of $0.10.
Upon closing of the Private Placement, the purchasers of the Units will
collectively hold approximately 21% of the outstanding Common Shares, which will
result in the creation of a new control person of the Company, as defined in the
rules of the TSX Venture Exchange (the "TSXV"). Accordingly, closing of the
Private Placement is subject to shareholder approval and Barker will seek
approval for the Private Placement by holders of a majority of Barker's Common
Shares by resolutions in writing in lieu of holding a formal meeting.
All securities issued will be subject to a four (4) month hold period from the
date of closing. The Private Placement is subject to the approval of the TSXV.
The Company also announces the granting of 4,885,000 incentive stock options to
consultants, employees, officers, contractors and directors of the Company of
which 2,365,000 replace options that expired on November 27, 2012. The Options
are exercisable at a price of $0.10 until January 31, 2023.
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.
FOR FURTHER INFORMATION PLEASE VISIT OUR WEBSITE www.barkerminerals.com OR
Louis E. Doyle Robert H. Kuhl
Tel: (250) 563-8752 Tel: (604) 321-0709
Fax: (250) 563-8751 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 this press release as a web page, click onto the following link:
Source: Barker Minerals Ltd. (BML - TSX-V)
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-0- Feb/06/2013 14:01 GMT
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