Fri May 18, 2012 Barker Minerals Announces Closing on Shares for Debt Agreements
For Immediate Release
Barker Minerals Announces Closing on Shares for Debt Agreements
Prince George, B.C., May 18, 2012 -- Barker Minerals Ltd. ("BML" on TSX/V) (the "Company") is pleased to announce the closing of a portion of the "shares for debt" transaction previously announced on April 5, 2012. The Company has issued 10,000,000 common shares at a deemed price of $0.05 per share for a settlement of $500,000.00 in debt. Approval of the TSX Venture Exchange has also been obtained for the issuance of an additional 1,600,000 common shares to extinguish an additional $80,000.00 of debt and the Company anticipates completing this additional closing in the near future.
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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