Thu Sep 8, 2011 Barker Reports August Increase in Outstanding Settlement Failures since November 2010
For Immediate Release
Barker Reports August Increase in Outstanding Settlement Failures since November 2010
Prince George, B.C., September 8, 2011 -- Barker Minerals Ltd. ("BML" on TSX/V) (the "Company") reports that in follow-up to its news releases on March 21, 2011 BM-11-173; April 18, 2011, BM-11-177; May 24, 2011 BM-11-180, July 26, 2011 BM-11-181 and August 8, 2011 BM-11-183 in which an ongoing review and analysis of trading and settlement data indicates that between November 1, 2010 and April 30, 2011 approximately 4,213,406 "settlement failures" or "delayed settlements" occurred in Barker's public market. Of those 4,213,406 settlement failures, as of August 31, 2011 approximately 1,880,839 shares still remain unsettled. (See Summary chart below)
In the month of August 2011, 1,331,201 shares traded with settlement failures of approximately -75,000 shares which is a failure rate of -14.1% of the total 535,499 net shares sold.
November 1, 2010 -- August 31, 2011 BML Trading & Settlement Summary Chart
Variance of TSX net sells
vs CDS net settlement
% of net sells
*Includes TSX-V, Alpha, Pure, but not Omega or OTC which would not impact the bottom line result.
**A Positive monthly Variance Total reflects the number of settlement failures for that time period. A Negative monthly (bracketed) Variance Total means more shares were net settled in CDS than were net traded during the time period.
***The Cumulative Variance Total (1,880,839) is the approximate number of outstanding settlement failures since November 1, 2010 which remain unsettled as of August 31, 2011.
The identification of significant settlement failures has resulted in a number of concerned investors contacting the Company requesting how they can confirm share ownership. To confirm share ownership interested investors can contact their financial institutions, and request delivery of their physical share certificates, or request direct registration of their shares in their personal name. As of August 31, 2011, there were 83,788,405 Barker Mineral shares registered and held by investors in certificate form. At that date there were 129,880,849 shares issued and outstanding.
Barker will continue to monitor its trading and settlement activities and report any irregularities which may be indicative of fraudulent activities in its public share market to the proper Regulatory authorities. The conclusions in this news release are assumptions of the Company and there are no certainties of accuracy.
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.
Louis E. Doyle
Barker Minerals Ltd.
Tel: (250) 563-8752
Fax: (250) 563-8751
Robert H. Kuhl
Barker Minerals Ltd.
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.
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