Barksdale Resources Terminates Sunnyside Transaction

VANCOUVER - Barksdale Resources Corp. announced that the Sunnyside transaction with Regal Resources Inc., previously announced, has been terminated. Regal failed to obtain the required number of votes necessary to move the Transaction forward at its special meeting of shareholders. Barksdale will continue to advance the Sunnyside project under the existing operating and contribution agreements dated August 10, 2017 between Regal USA, a wholly owned subsidiary of Regal, and Arizona Standard (US) Corp., a wholly owned subsidiary of Barksdale (collectively the "Option Agreement").

Rick Trotman, Barksdale's CEO, said, "The attempt to consolidate Sunnyside was ultimately the right decision for both Barksdale and Regal, as it would have allowed us to move forward as a unified group with a common purpose and provide Regal's shareholders with a long awaited liquidity opportunity. I sincerely appreciate the support shown by Regal's management and majority of Regal shareholders that supported the Transaction and wish them well in their future endeavors. Barksdale will now focus its attention on getting its debt repaid by Regal and will deploy those funds towards advancing the other exciting projects in its portfolio."