Medialist Capital Ltd. Files Early Warning Report Related to the Acquisition of Common Shares of Barksdale Resources Corp.
Toronto, Ontario--(Newsfile Corp. - May 22, 2026) - Medalist Capital Ltd. (the "Corporation") announces that it acquired, in the aggregate, a net amount of 3,400,000 common shares ("Shares") of Barksdale Resources Corp., (the "Issuer") during the period from May 1, 2026 and May 7, 2026 at an average price of $0.3368 per Share, for total consideration of $1,145,120 (the "Acquisitions").
Prior to the Acquisitions, the Corporation owned, directly or indirectly, or exercised control or direction over, 21,148,170 Shares, which represented approximately 9.68% of the total issued and outstanding Shares of the Issuer. In addition to the foregoing, the Acquiror held 6,214,390 share purchase warrants ("Warrants"), comprised of 1,497,390 Warrants that are not subject to exercise restrictions (the "Unrestricted Warrants") and 4,717,000 Warrants that are subject to restrictions on exercise (the "Restricted Warrants"), including restrictions preventing exercise while the Acquiror holds greater than 10% of the issued and outstanding Shares of the Issuer. Assuming the exercise of the Unrestricted Warrants only, such Warrants would represent approximately 0.68% of the issued and outstanding Shares of the Issuer, calculated on a standalone post-exercise basis.
As a result of the Acquisitions, the Acquiror now owns directly or indirectly, or exercises control or direction over, 24,548,170 Shares, representing approximately 11.24% of the Issuer's issued and outstanding Shares. The Acquiror also holds 6,214,390 Warrants, including 1,497,390 Unrestricted Warrants. Assuming the exercise of the Unrestricted Warrants only, such Warrants would represent approximately 0.68% of the issued and outstanding Shares of the Issuer, calculated on a standalone post-exercise basis. Accordingly, the Acquiror is now considered a "reporting insider" of the Issuer, as such term is defined under applicable securities laws, as the Acquiror has exceeded the 10% reporting threshold.
The Acquisitions were conducted for investment purposes. In accordance with applicable securities laws, the Corporation may, from time to time and at any time, acquire additional Shares and/or other equity, debt or other securities or instruments of the Issuer (the "Securities") in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Corporation and other relevant factors.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report under applicable securities laws, a copy of which is available under the SEDAR+ profile of the Corporation at www.sedarplus.ca.
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Source: Medalist Capital Ltd.
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