Bayhorse Silver Closes 600,000 Unit Final Tranche of Previously Announced Non-Brokered Flow-Through Private Placement
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/08/15 -- Bayhorse Silver Inc. (the "Company" or "Bayhorse") (TSX VENTURE: BHS) announces that, subject to TSX-V final approval, it has closed the final tranche of 600,000 Units at $0.10 cents Unit of its previously announced non-brokered flow-through private placement for gross proceeds of $60,000.
Each Unit consists of one (1) flow through common share and one (1) transferable non flow through common share purchase warrant, with each warrant exercisable into one (1) common share of the Company at an exercise price of $0.15, exercisable for a period of 24 months from the date of issuance.
The funds raised are for the Little Swan light oil project in Saskatchewan.
Mr. Graeme O''Neill, a director and officer of the Company subscribed for the 600,000 Units of the placement and upon completion of the placement will hold 3,797,000 common shares, representing 14.8% of the Company''s issued and outstanding shares. The price of the units was determined in accordance with the policies of the TSX Venture Exchange. The acquisition of units by insiders under the private placement was exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 pursuant to sections 5.5(a) and 5.7(a) of that instrument.
All securities issued under the private placement are subject to a four-month hold period which expires August 8, 2015.
Bayhorse Silver Inc. is a junior exploration company that has entered into a Farm-In Agreement with Saturn Minerals to acquire a 25% interest in the Little Swan oil project, and is earning an 80% interest in its newly acquired historic Bayhorse Silver Mine that has the potential for a substantial silver discovery. It has a 100% interest in its three major high grade New Zealand gold prospects (Alexander River, Paparoa and Red Queen), in the highly prolific West Coast South Island gold fields of New Zealand, which offers investors the potential for a major gold discovery.
The Company has a 30% Net Profit Interest in the Flagstaff barite mine in Washington State, where work is currently in progress. The Company has an experienced management and technical team with extensive exploration expertise. This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents.
On Behalf of the Board
Graeme O''Neill, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Bayhorse Silver Inc.
604.684.3394
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Datum: 08.04.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 1349846
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