Bakken Resources, Inc. announced its entry into a term sheet on May 3, 2016 with Eagle Private Equity for debt and equity financing. The Term Sheet provides for an immediate $1 million credit line to be provided by Eagle, along with a subsequent debt or equity financing of up to $10 million. Proceeds from the loans and other financing will be intended for the acquisition of mineral assets. Loans made to the Company based on the initial $1 million credit line may be converted into a newly-created class of the Company's preferred stock.