News outIt looks like they weren't kidding!
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Barker Minerals Announces Flow-through Financing
Prince George, British Columbia CANADA, Dec 30, 2008 (Filing Services Canada via COMTEX News Network) -- Barker Minerals Ltd. (BML - TSX Venture), (the "Company") announcedtoday a non-brokered private placement of 820,000 common shareflow-through units (the "FT Units") at a price of $0.10 per FT Unit forgross proceeds of $82,000.
Each FT Unit will consist of oneCommon Share issued on a flow-through basis (the "FT Share") and onenon-flow-through common share purchase warrant (a "Warrant") of thecompany. Each Warrant will entitle the holder to acquire one CommonShare at a price of $0.10 per share for a period of twenty four monthsfollowing the Closing. Insiders are expected to acquire all of the FTUnits.
The proceeds received from the sale of the FT Units will be used to fund work programs on the company's properties.
Legal Action to be Filed
TheCompany also reports that the Board of Directors has authorized thecommencement of legal proceedings against certain persons makingdefamatory comments in Internet stock forums, which may be related toirregular trading activity being tracked by the Company. The legalaction is expected to be filed in early 2009.
About Barker Minerals
BarkerMinerals is advancing exploration on its mineral properties in theCariboo Gold District, one of the most mineralized belts in BritishColumbia. The Company has 21 projects on its exploration properties,all of which are 100% owned by Barker Minerals. Seven projects havedrill-ready gold and/or massive sulphide targets with permits in placefor 3 projects with planned programs for 2009. Programs are alsoplanned to further the significant discoveries of mineralization on theCompany's Frank Creek VMS and Kangaroo Gold projects.
Certainstatements in this press release may be considered forward-lookinginformation, including those relating to "plans" of the Company. Suchinformation involves known and unknown risks, uncertainties and otherfactors -- including the availability of funds, the results offinancing and exploration activities, the interpretation of drillingresults and other geological data, project cost overruns orunanticipated costs and expenses and other risks identified by theCompany in its public securities filings -- that may cause actualevents to differ materially from current expectations. Readers arecautioned not to place undue reliance on these forward-lookingstatements, which speak only as of the date of this press release. TheCompany disclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise
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FOR FURTHER INFORMATION PLEASE CONTACT:
Louis E. Doyle Robert H. Kuhl
Barker Minerals Ltd. Barker Minerals Ltd.
Tel: (250) 563-8752 Tel: (604) 321-0709
Fax: (250) 563-8751 Fax: (604) 321-0719
barker@telus.net bmls@shaw.ca
www.barkerminerals.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Source: Barker Minerals Ltd. (BML - TSX-V)
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