Barker Minerals Ltd. (TSXV:BML) announced a non-brokered private placement up to 5,000,000 units at a price of CAD 0.05 per share for gross proceeds of CAD 250,000 on September 8, 2015. Each unit consists of one convertible, redeemable, and retractable preferred share convertible into one common share of the company and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at an exercise price of CAD 0.05 per share for a period of five years from the date of closing and will expire on the earlier of sixty months following the closing date and the redemption or repayment of the preferred shares.

The securities issued are subject to a hold period of four months plus a day from the date of closing. The transaction is subject to the approval of the TSX venture Exchange.