Thu Nov 20, 2003 Barker Minerals Announces $750,000 Offering
Barker Minerals Announces $750,000 Offering
Vancouver, B.C., November 20, 2003 -- Barker Minerals Ltd. (BML - TSX/V) announces a proposed financing by way of an offering memorandum of up to 2,142,857 Flow-through Shares and up to 3,000,000 Common Shares at a price of $0.35 per Flow-through Share and $0.25 per Unit. Each Unit will consist of one Common Share and one-half of a Warrant and each whole Warrant will be exercisable into one Common Share at a price of $0.35 and $0.45 in the first and second years, respectively, from the date of issue.
The offering is subject to a maximum gross proceeds of $750,000 Cdn. The Company will pay a cash commission of up to 10% to a finder and may, under certain circumstances, issue warrants to finders up to 15% of the number of Units or Flow-through Shares issued. Each warrant issued to a finder will be exercisable into one Common Share at a price of $0.35 and $0.45 in the first and second years, respectively, from the date of issue. The foregoing terms of the proposed financing are subject to TSX Venture Exchange approval.
The net proceeds from the offering will be used for general corporate purposes and to advance Phase 1 of the Frank Creek and SCR project and Phase 1 of the ACE VMS and Gold project.
Potential investors or their agents may contact Barker's office in Langley to request a copy of the Offering Memorandum.
FOR FURTHER INFORMATION PLEASE CONTACT:
Louis E. Doyle
Barker Minerals Ltd.
Tel: (604) 530-8752
Fax: (604) 530-8751