<SEC-DOCUMENT>0001140361-25-034902.txt : 20250912
<SEC-HEADER>0001140361-25-034902.hdr.sgml : 20250912
<ACCEPTANCE-DATETIME>20250912171039
ACCESSION NUMBER:		0001140361-25-034902
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250912
DATE AS OF CHANGE:		20250912

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BARNWELL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000010048
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				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:		251312359

	BUSINESS ADDRESS:	
		STREET 1:		1100 ALAKEA ST.
		STREET 2:		SUITE 500
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813
		BUSINESS PHONE:		808-531-8400

	MAIL ADDRESS:	
		STREET 1:		1100 ALAKEA ST.
		STREET 2:		SUITE 500
		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>
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    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; margin-right: 7.2pt; margin-left: 7.2pt; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 7.2pt;"> <br>
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    <div style="text-align: center; font-size: 18pt; font-weight: bold;">SCHEDULE 14A</div>
    <div style="text-align: center; font-weight: bold;">Proxy Statement Pursuant to Section 14(a)</div>
    <div style="text-align: center; font-weight: bold;">of the Securities Exchange Act of 1934</div>
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            <div style="text-align: justify; margin-right: 2pt; color: rgb(0, 0, 0);">Filed by the Registrant</div>
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          <td style="width: 72%; vertical-align: top;">&#9746;</td>
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            <div style="text-align: justify; margin-right: 2pt; color: rgb(0, 0, 0);">Filed by a Party other than the Registrant&#160; <br>
            </div>
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          <td style="width: 72%; vertical-align: top;">&#9744;</td>
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          <td style="vertical-align: top;" colspan="3">
            <div style="text-align: justify; margin-right: 2pt; color: rgb(0, 0, 0);">Check the appropriate box:</div>
          </td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3.8%; vertical-align: top;">&#9744;</td>
          <td style="width: 93%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; color: rgb(0, 0, 0);">Preliminary Proxy Statement</div>
          </td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3.8%; vertical-align: top;">&#9744;</td>
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            <div style="text-align: justify; margin-right: 2pt; color: rgb(0, 0, 0); font-weight: bold;">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6 (e)(2))</div>
          </td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3.8%; vertical-align: top;">&#9744;</td>
          <td style="width: 93%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; color: rgb(0, 0, 0);">Definitive Proxy Statement</div>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3.8%; vertical-align: top;">&#9746;</td>
          <td style="width: 93%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; color: rgb(0, 0, 0);">Definitive Additional Materials</div>
          </td>
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          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 3.8%; vertical-align: top;">
            <div style="margin-right: 2pt; color: rgb(0, 0, 0);">&#9744;</div>
          </td>
          <td style="width: 93%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt; color: rgb(0, 0, 0);">Soliciting Material under &#167;240.14a-12</div>
          </td>
        </tr>

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    <div> <br>
    </div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 7.2pt;"> <br>
    </div>
    <div style="text-align: center; margin-right: 9.2pt; margin-left: 7.2pt; font-size: 24pt; font-weight: bold;">Barnwell Industries, Inc.</div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 7.2pt;"> <br>
    </div>
    <div style="text-align: center; margin-right: 9.2pt; margin-left: 7.2pt; font-weight: bold;">(Name of Registrant as Specified in Its Charter)</div>
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            <div style="margin-right: 2pt;">Payment of Filing Fee (Check the appropriate box):</div>
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          <td style="width: 97%; vertical-align: top;">
            <div style="margin-right: 2pt;">No fee required</div>
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          <td style="width: 3%; vertical-align: top;">&#9744;</td>
          <td style="width: 97%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt;">Fee previously paid with preliminary materials</div>
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          <td style="width: 3%; vertical-align: top;">&#9744;</td>
          <td style="width: 97%; vertical-align: top;">
            <div style="text-align: justify; margin-right: 2pt;">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11</div>
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                <div>
                  <div style="font-weight: bold;">BARNWELL INDUSTRIES, INC.</div>
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        <div style="text-align: center; font-weight: bold;">Barnwell Announces Reduction of Quorum for Further</div>
        <div style="text-align: center; font-weight: bold;">&#160;Adjourned 2025 Annual Meeting</div>
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
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        <div style="text-align: justify;"> <br>
        </div>
        <div style="text-align: justify;">HONOLULU, HAWAII, September 11, 2025 -- Barnwell Industries, Inc. (NYSE American: BRN) (&#8220;Barnwell&#8221; or the &#8220;Company&#8221;) today convened and then adjourned the 2025 Annual Meeting of Stockholders (the &#8220;2025 Annual
          Meeting&#8221;) without transacting any other business.&#160; The 2025 Annual Meeting was adjourned to be held on Friday, September 19, 2025 at 9:00 a.m., Hawaii Standard Time, at Suite 210, Alakea Corporate Tower, 1100 Alakea Street, Honolulu, Hawaii. The
          2025 Annual Meeting will continue to be uncontested and the adjournment of the 2025 Annual Meeting will not reopen the nomination window for the election of directors under the Company&#8217;s Amended and Restated Bylaws (the &#8220;Bylaws&#8221;).</div>
        <div><br>
        </div>
        <div style="text-align: justify;">So that a stockholder vote on the nominees to the Board may occur and the Company&#8217;s annual meeting be concluded, the Board decided yesterday to amend the Bylaws to reduce the quorum requirement on a one-time,
          limited basis to transact business at the 2025 Annual Meeting from a majority of the shares of the Company issued and outstanding and entitled to vote to thirty-three and one-third percent (33<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1/3</sup> %) of the issued and outstanding shares
          of the Company entitled to vote, represented in person or by proxy.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">By purposefully defeating a quorum, Mr. Sherwood forced multiple adjournments of the 2025 Annual Meeting, depriving all stockholders of the orderly and timely election of directors, forced the Company to incur
          additional costs over the past several quarters, and caused management to divert attention and resources away from executing on its strategy for enhancing stockholder value.</div>
        <div><br>
        </div>
        <div style="text-align: justify;">Over the past year, the Board has extended multiple settlement frameworks to Mr. Sherwood, each offering board representation consistent with the Sherwood Group&#8217;s ownership. Mr. Sherwood rejected every such offer
          and only countered with proposals that would grant him control of the Board. As previously stated, Barnwell remains open to engaging in constructive, good-faith settlement discussions with the Sherwood Group in pursuit of a resolution that
          represents the best interests of the Company and all stockholders. The Company believes that these governance matters should be resolved collaboratively and thoughtfully, wherever possible, to avoid unnecessary distraction and preserve focus on
          long-term value creation by developing its Canadian energy assets.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt; font-weight: bold;"><u>Barnwell&#8217;s Board of Directors (the &#8220;Board&#8221;) strongly recommends that stockholders use the WHITE proxy card to vote &#8220;FOR&#8221; ONLY the election of
              the four nominees proposed by the Board (Kenneth S. Grossman, Craig D. Hopkins, Joshua S. Horowitz, and Philip J. McPherson)</u></font><font style="font-size: 10pt;">.</font></div>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">1</font></div>
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        <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt; font-weight: bold;">The record date for the adjourned 2025 Annual Meeting remains the close of business on July 21, 2025.</font><font style="font-size: 10pt;"> If you
            have already voted, <font style="font-weight: bold;">you do not need to recast your votes </font>unless you wish to change your votes. Proxies previously submitted will be voted at the reconvened 2025 Annual Meeting unless properly revoked.
            The Board strongly urges you to discard and <font style="font-weight: bold;">NOT</font> to vote using any green proxy card that may be sent to you by the Sherwood Group. If you have already voted using a green proxy card sent to you by the
            Sherwood Group, you have every right to change your vote and we strongly urge you to revoke that proxy by following the instructions on the Notice of Internet Availability of Proxy Materials to vote your shares, or, if you requested a hard copy
            of the proxy materials, by completing and returning the <font style="font-weight: bold;">WHITE</font> proxy card or voting instructions form to the Company.</font></div>
        <div> <br>
        </div>
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              <td style="width: 80%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">If you have any questions or to revoke a previous submitted proxy, please contact our proxy solicitor:<br>
                  <br>
                  Okapi Partners at (877) 869-0171 or by email at <u>info@okapipartners.com</u></div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Forward-Looking Statements</div>
        <div style="text-align: justify;">Certain information contained in this press release contains &#8220;forward-looking statements,&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as
          amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current beliefs and expectations of our board and management team that involve risks, potential changes in circumstances,
          assumptions, and uncertainties, include various estimates, forecasts, projections of Barnwell&#8217;s future performance, statements of Barnwell&#8217;s plans and objectives, our expectations regarding the outcome of the 2025 annual meeting of stockholders
          and our ability to successfully solicit proxies from our stockholders in connection with the 2025 annual meeting of stockholders. Forward-looking statements include phrases such as &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221;
          &#8220;predicts,&#8221; &#8220;estimates,&#8221; &#8220;assumes,&#8221; &#8220;projects,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;will be,&#8221; &#8220;should,&#8221; or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations
          contained in such forward-looking statements will be achieved. Any or all of the forward-looking statements may turn out to be incorrect or be affected by inaccurate assumptions Barnwell might make or by known or unknown risks and uncertainties.
          These forward-looking statements are subject to risks and uncertainties including risks related to the actions of the Sherwood Group, our ability to successfully solicit proxies from stockholders in connection with the 2025 annual meeting of
          stockholders, our ability to defend against any potential claims by the Sherwood Group, our ability to execute on our strategy and business plan and the other risks forth in the &#8220;Forward-Looking Statements,&#8221; &#8220;Risk Factors&#8221; and other sections of
          Barnwell&#8217;s Annual Report on Form 10-K for the fiscal year ended September 30, 2024 (as amended on Form-10-K/A filed on January 27, 2025) and Barnwell&#8217;s other filings with the Securities and Exchange Commission. Investors should not place undue
          reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to
          any forward-looking statements contained herein.</div>
        <div><br>
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                <td style="width: 15%;">COMPANY:</td>
                <td style="width: 85%;">Barnwell Industries, Inc.<br>
                </td>
              </tr>
              <tr>
                <td style="width: 15%;"><br>
                </td>
                <td style="width: 85%;"> 1100 Alakea Street, Suite 500 </td>
              </tr>
              <tr>
                <td style="width: 15%;"><br>
                </td>
                <td style="width: 85%;"> Honolulu, HI 96813 </td>
              </tr>
              <tr>
                <td style="width: 15%;"><br>
                </td>
                <td style="width: 85%;">Telephone: (808) 531-8400</td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">Fax: (808) 531-7181</td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">Website:&#160; www.brninc.com</td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 15%;">CONTACT:<br>
                </td>
                <td style="width: 85%;">Investors:</td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">Bruce Goldfarb / Chuck Garske<br>
                </td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">(212) 297-0720<br>
                </td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">
                  <div style="text-align: left;">Email: info@okapipartners.com</div>
                </td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">Kenneth S. Grossman</td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">Vice Chairman of the Board of Directors<br>
                </td>
              </tr>
              <tr>
                <td style="width: 15%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 85%;">Email: kensgrossman@gmail.com</td>
              </tr>

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        <div style="text-align: center;"><font style="font-size: 8pt; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber"> <br>
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          </font></div>
        <div style="text-align: center;"> <font style="font-size: 8pt; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">3</font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
