01:24 PM EDT, 06/05/2024 (MT Newswires) -- Barksdale Resources ( BRKCF ) said Wednesday it is seeking $4 million in a non-brokered private placement of share units.

The company is offering 26.67-million units in the financing, with each priced at $0.15 and made up of a share and a three-year warrant to buy a second share for $0,23.

The company intends to use the proceeds to fund exploration activities at the company's properties in Arizona and for working capital and general corporate purposes.

The offering is expected to close by June 25.

The company's shares were last seen down $0.01 to $0.15 on the TSX Venture Exchange,

Price: 0.15, Change: -0.01, Percent Change: -6.25