<SEC-DOCUMENT>0000899681-21-000002.txt : 20210112
<SEC-HEADER>0000899681-21-000002.hdr.sgml : 20210112
<ACCEPTANCE-DATETIME>20210111215115
ACCESSION NUMBER:		0000899681-21-000002
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210112
DATE AS OF CHANGE:		20210111

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BARNWELL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000010048
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				720496921
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05103
		FILM NUMBER:		21522295

	BUSINESS ADDRESS:	
		STREET 1:		1100 ALAKEA ST.
		STREET 2:		SUITE 2900
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813
		BUSINESS PHONE:		808-531-8400

	MAIL ADDRESS:	
		STREET 1:		1100 ALAKEA ST.
		STREET 2:		SUITE 2900
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BMA CORP/TN
		DATE OF NAME CHANGE:	19770324

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BARNWELL OFFSHORE INC
		DATE OF NAME CHANGE:	19671101
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>p21-0002_defa14a.htm
<DESCRIPTION>DEFA 14A
<TEXT>
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    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-weight: bold;">UNITED STATES<br>
      SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 10pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 10pt;">&#160;</div>
    <div style="text-align: center; font-size: 10pt; font-weight: bold;"><font style="font-size: 12pt;">SCHEDULE 14A</font><br>
      (RULE 14a-101)</div>
    <div style="text-align: center; font-size: 10pt; font-weight: bold;">INFORMATION REQUIRED IN PROXY STATEMENT</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 10pt;">&#160;</div>
    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 10pt; font-weight: bold;">Proxy Statement Pursuant to Section 14(a)<br>
      of the Securities Exchange Act of 1934</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 10pt; font-weight: bold;">&#160;</div>
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        <tr>
          <td style="width: 37.4%; vertical-align: top;" colspan="3">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">Filed by the Registrant</div>
          </td>
          <td style="width: 62.6%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">&#8999;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.4%; vertical-align: top;" colspan="3">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">Filed by a Party other than the Registrant</div>
          </td>
          <td style="width: 62.6%; vertical-align: top;">
            <div style="margin-right: 2pt; color: #000000; font-size: 10pt;">&#9723;</div>
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        <tr>
          <td style="width: 100%; vertical-align: top;" colspan="4">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">Check the appropriate box:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.81%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-size: 10pt;">&#160;</div>
          </td>
          <td style="width: 3.8%; vertical-align: top;">
            <div style="margin-right: 2pt; color: #000000; font-size: 10pt;">&#9723;</div>
          </td>
          <td style="width: 92.4%; vertical-align: top;" colspan="2">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">Preliminary Proxy Statement</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.81%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-size: 10pt;">&#160;</div>
          </td>
          <td style="width: 3.8%; vertical-align: top;">
            <div style="margin-right: 2pt; color: #000000; font-size: 10pt;">&#9723;</div>
          </td>
          <td style="width: 92.4%; vertical-align: top;" colspan="2">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6 (e)(2))</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.81%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-size: 10pt;">&#160;</div>
          </td>
          <td style="width: 3.8%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">&#9723;</div>
          </td>
          <td style="width: 92.4%; vertical-align: top;" colspan="2">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">Definitive Proxy Statement</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.81%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">&#160;</div>
          </td>
          <td style="width: 3.8%; vertical-align: top;">
            <div style="margin-right: 2pt; color: #000000; font-size: 10pt;">&#9723;</div>
          </td>
          <td style="width: 92.4%; vertical-align: top;" colspan="2">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">Definitive Additional Materials</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.81%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-size: 10pt;">&#160;</div>
          </td>
          <td style="width: 3.8%; vertical-align: top;">
            <div style="margin-right: 2pt; color: #000000; font-size: 10pt;">&#8999;</div>
          </td>
          <td style="width: 92.4%; vertical-align: top;" colspan="2">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">Soliciting Material Pursuant to &#167;240.14a-12</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 10pt;">&#160;</div>
    <div style="text-align: center; margin-right: 9.2pt; margin-left: 7.2pt; font-size: 18pt; font-weight: bold;">Barnwell Industries, Inc.</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 10pt;">&#160;</div>
    <div style="text-align: center; margin-right: 9.2pt; margin-left: 7.2pt; font-size: 10pt; font-weight: bold;">(Name of Registrant as Specified in Its Charter)</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 10pt;">&#160;</div>
    <div style="text-align: center; margin-right: 9.2pt; margin-left: 7.2pt; font-size: 10pt; font-weight: bold;">__________________________________________________________________________________<br>
      (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)</div>
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        <tr>
          <td style="width: 100%; vertical-align: top;" colspan="3">
            <div style="margin-right: 2pt; font-size: 10pt;">Payment of Filing Fee (Check the appropriate box):</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; color: #000000; font-size: 10pt;">&#8999;</div>
          </td>
          <td style="width: 95.1%; vertical-align: top;" colspan="2">
            <div style="margin-right: 2pt; font-size: 10pt;">No fee required.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">
            <div style="margin-right: 2pt; color: #000000; font-size: 10pt;">&#9723;</div>
          </td>
          <td style="width: 95.1%; vertical-align: top;" colspan="2">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">Fee computed on table below per Exchange Act rules 14a-6(i)(1) and 0-11.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">&#160;</td>
          <td style="width: 5.12%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">(1)</div>
          </td>
          <td style="width: 89.99%; vertical-align: top; border-bottom: #000000 1px solid;">
            <div style="margin-right: 2pt; font-size: 10pt;">Title of each class of securities to which transaction applies:</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">&#160;</td>
          <td style="width: 5.12%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">(2)</div>
          </td>
          <td style="width: 89.99%; vertical-align: top; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
            <div style="margin-right: 2pt; font-size: 10pt;">Aggregate number of securities to which transaction applies:</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">&#160;</td>
          <td style="width: 5.12%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">(3)</div>
          </td>
          <td style="width: 89.99%; vertical-align: top; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
            <div style="margin-right: 2pt; font-size: 10pt;">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which
              the filing fee is calculated and state how it was determined):</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">&#160;</td>
          <td style="width: 5.12%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">(4)</div>
          </td>
          <td style="width: 89.99%; vertical-align: top; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
            <div style="margin-right: 2pt; font-size: 10pt;">Proposed maximum aggregate value of transaction:</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">&#160;</td>
          <td style="width: 5.12%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">(5)</div>
          </td>
          <td style="width: 89.99%; vertical-align: top; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">Total fee paid:</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">
            <div style="margin-right: 2pt; color: #000000; font-size: 10pt;">&#9723;</div>
          </td>
          <td style="width: 5.12%; vertical-align: top;">&#160;</td>
          <td style="width: 89.99%; vertical-align: top; border-top: #000000 1px solid;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">Fee paid previously with preliminary materials.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">
            <div style="margin-right: 2pt; color: #000000; font-size: 10pt;">&#9723;</div>
          </td>
          <td style="width: 5.12%; vertical-align: top;">&#160;</td>
          <td style="width: 89.99%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11 (a)(2) and identify the filing for which the
              offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">&#160;</td>
          <td style="width: 5.12%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">(1)</div>
          </td>
          <td style="width: 89.99%; vertical-align: top; border-bottom: #000000 1px solid;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">Amount previously paid:</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">&#160;</td>
          <td style="width: 5.12%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">(2)</div>
          </td>
          <td style="width: 89.99%; vertical-align: top; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">Form, Schedule or Registration Statement No.:</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">&#160;</td>
          <td style="width: 5.12%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">(3)</div>
          </td>
          <td style="width: 89.99%; vertical-align: top; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">Filing Party:</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 4.9%; vertical-align: top;">&#160;</td>
          <td style="width: 5.12%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">(4)</div>
          </td>
          <td style="width: 89.99%; vertical-align: top; border-top: #000000 1px solid; border-bottom: #000000 1px solid;">
            <div style="text-align: justify; margin-right: 2pt; font-size: 10pt;">Date Filed:</div>
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 10pt;">&#160;</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 12pt; margin-bottom: 12pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="font-size: 10pt;">This filing contains a press release issued by Barnwell Industries, Inc., dated January 11, 2021<font style="color: #000000;">.</font></div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 10pt;">*****</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Barnwell Industries, Inc. Reports Receipt of Notice of Nominations and Formation of Special Committee; Provides Business Update</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">HONOLULU, HAWAII, January 11, 2021 -- Barnwell Industries, Inc. (NYSE American: BRN) (&#8220;Barnwell&#8221;, the &#8220;Company&#8221;) announced today that it
      has received notice of director nominations for election at the 2021 annual meeting of stockholders (the &#8220;2021 Annual Meeting&#8221;) from Ned L. Sherwood, Bradley M. Tirpak and MRMP-Managers LLC, who also jointly nominated directors for election at
      Barnwell&#8217;s 2020 annual meeting of stockholders.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Mr. Alexander C. Kinzler, Chief Executive Officer and President, commented, &#8220;In response to the receipt of notice, the Barnwell Board
      has created a special committee comprised of Peter J. O&#8217;Malley, chairman, Kenneth S. Grossman and Robert J. Inglima, Jr., each of whom is an independent director, f<font style="color: #000000;">or the purpose of considering various matters relating to the potential of another proxy contest initiated by Messrs. Sherwood, Tirpak and MRMP-Managers LLC in connection with the 2021 Annual Meeting. </font>The Company intends to
      provide updates if and when necessary, in accordance with applicable securities laws.&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Mr. O&#8217;Malley, chairman of the special committee, commented that &#8220;While it is unfortunate that the stockholder group has commenced an
      election contest for the second year in a row, the special committee intends to engage with the stockholder group to see if a costly and disruptive fight can be avoided so that the Barnwell Board can remain focused on enhancing value for
      stockholders.&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Separately, the Company announced that two additional developer lots closed in December 2020 at Kaupulehu, North Kona, Hawaii, in
      consideration for which the Company&#8217;s Kaupulehu Developments venture received $485,000 in percentage of sales payments ($320,000 net to the Company) and the Company received cash distributions of $1,712,000, which includes an additional preferred
      return payment of $459,000. These transactions will be reflected in the Company&#8217;s financials for the quarter ended December 31, 2020.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">About Barnwell Industries, Inc.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Barnwell Industries, Inc. and its subsidiaries are principally engaged in oil and natural gas exploration, development, production and sales in Canada;
      investing in leasehold interests in real estate in Hawaii; and well drilling services and water pumping system installation and repairs in Hawaii.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Additional Information</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Barnwell intends to file a proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) in connection with its
      solicitation of proxies for its 2021 Annual Meeting.&#160;Details concerning the nominees of Barnwell's Board of Directors for election at the 2021 Annual Meeting will be included in the proxy statement. BARNWELL STOCKHOLDERS ARE STRONGLY ENCOURAGED TO
      READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION.&#160;Stockholders may obtain the proxy statement, any amendments or
      supplements to the proxy statement and other documents as and when filed by Barnwell with the SEC without charge from the SEC&#8217;s website at www.sec.gov or by
      contacting Morrow Sodali LLC, Barnwell&#8217;s proxy solicitor, at:</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; background-color: rgb(255, 255, 255); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">(800)
      662-5200 (toll-free in North America)</div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; background-color: rgb(255, 255, 255); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">+1
      (203) 658-9400 (outside of North America)</div>
    <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; background-color: rgb(255, 255, 255); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">BRN@investor.morrowsodali.com</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Certain Information Regarding Participants</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Barnwell, its directors and certain of its executive officers may be deemed to be participants in connection with the solicitation of proxies from
      Barnwell&#8217;s stockholders in connection with the matters to be considered at the 2021 Annual Meeting.&#160;Information regarding the ownership of Barnwell&#8217;s directors and executive officers in Barnwell stock is included in their SEC filings on Forms 3, 4,
      and 5, which can be found through the SEC&#8217;s website at www.sec.gov.&#160;Information can also be found in Barnwell&#8217;s other SEC filings.&#160;More detailed and updated
      information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC.&#160;These documents can be
      obtained free of charge from the sources indicated above.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Safe Harbor for Forward-Looking Statements</div>
    <div><br>
    </div>
    <div style="text-align: justify;">This release contains &#8220;forward-looking statements&#8221; within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the
      Securities Act, and Section 21E of the Exchange Act. These forward-looking statements are predictions and generally can be identified by use of statements that include phrases such as &#8220;plan,&#8221; &#8220;expect,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;anticipate,&#8221;
      &#8220;intend,&#8221; &#8220;project,&#8221; &#8220;estimate,&#8221; &#8220;guidance,&#8221; &#8220;possible,&#8221; &#8220;continue&#8221; and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and
      involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to, those
      described in &#8220;Risk Factors&#8221; and elsewhere in the Company&#8217;s Annual Report on Form&#160;10-K for the year ended September 30, 2020 and subsequent filings with the SEC. These factors should be considered carefully and readers are cautioned not to place undue
      reliance on such forward-looking statements. No assurance can be given that the future results covered by the forward-looking statements will be achieved.&#160; All forward-looking statements contained in this release are qualified by these cautionary
      statements and are made only as of the date of this release.&#160; The Company does not undertake any obligation to update or revise these forward-looking statements except as required by law.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 10pt;">*****</div>
  </div>
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