Bayhorse Closes 2nd Tranche of Private Placement
July 3, 2019 BHS2019-19
BAYHORSE CLOSES 2ND TRANCHE OF PRIVATE PLACEMENT
Bayhorse Silver Inc. BHS: TSX-V (the “Company” or “Bayhorse”) announces that, subject to the approval of the TSX Venture Exchange, it has closed a second tranche of 1,933,333 Units of its previously announced non-brokered private placement at a price of $0.075 per unit for gross proceeds of $145,000 (the “Non-Flow Through Units”) for a total of $242,500 received to date.
Each Flow-Through Unit consists of one flow-through common share and one transferable common share purchase warrant exercisable into one non-flow through common share of the Company at an exercise price of $0.125 cents for a period of thirty six months from the date of issuance.
Each Non-Flow Through Unit consists of one common share and one transferable common share purchase warrant exercisable into one common share of the Company at an exercise price of $0.125 cents for a period of thirty six months from the date of issuance.
In addition to any other exemption available to the Company, participation in the Private Placement is also open to all existing shareholders, even if not accredited investors, under the “existing shareholder” exemption of National Instrument 45-106 as promulgated in Multilateral CSA notice 45-313 in participating jurisdictions.
Proceeds of the financing are to fund the upcoming exploration program on the Company’s newly acquired Brandywine gold/silver project, the Bayhorse Silver Mine, and for general and administrative costs.
With the Silver/Gold Ratio hitting over 93 ounces of silver to one of gold, for only the third time since 1941, it is appropriate to reflect on nine recent Silver Articles. They demonstrate just how far in the left, right, outfield silver pricing is today compared to gold, and the potential for a barn burner rally to below 60 to 1. Silver One, Silver Two, Silver Three, Silver Four, Silver Five, Silver Six, Silver Seven, Silver Eight, Silver Nine
Bayhorse CEO, Graeme O’Neill, has subscribed for a total 1,800,000 Non-Flow Through Units of the private placement to date, and has sold, both through private transactions, and through the facilities of the TSX Venture Exchange, 1,850,000 common shares of the Company to facilitate his subscriptions.
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, CEO
604-684-3394
Bayhorse Silver Inc., a junior exploration company, has earned 100% interest in the historic Bayhorse Silver Mine Oregon, USA. and has optioned the Brandywine, precious metals rich, volcanogenic massive sulphide property located in BC, Canada. The Company has an experienced management and technical team with extensive exploration and mining expertise.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
