Thu Apr 5, 2012 Barker Minerals Announces Shares for Debt
For Immediate Release
BM-12-203
Barker Minerals Announces Shares for Debt
Prince George, B.C., April 5, 2012 -- Barker Minerals Ltd. ("BML" on TSX/V) (the "Company") announces that the Company has reached an agreement with four creditors to settle indebtedness of the Company in the aggregate amount of $580,000 through the issuance of 11,600,000 common shares of the Company at the deemed price of $0.05 per share. Each of the creditors is, or will become upon completion of the proposed transaction, an insider of the Company. The proposed transaction is subject to the approval of the TSX Venture Exchange and all common shares to be issued will be subject to a four (4) month hold period.
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.
You can view the Next Company News item: Fri Apr 13, 2012, Barker Reports 3.8 g/t Gold over 22.45 Metres at Frank Creek
You can view the Previous Company News item: Tue Mar 20, 2012, Barker Reports 2011 Prospecting Discoveries on GSC Airborne Targets from the Black Bear East and Spanish Creek Projects
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