Bayhorse Closes Private Placement Tranche For $262,500
December 3, 2019 BHS2019-35
BAYHORSE CLOSES NON-BROKERED PRIVATE PLACEMENT TRANCHES
Bayhorse Silver Inc. BHS: TSX-V (the “Company” or “Bayhorse”) announces that, subject to the approval of the TSX-V, it has closed a first tranche of its previously announced non-brokered private placement consisting of 1,300,000 flow-through units at $0.125 cents per unit, for gross proceeds of $162,500, and 800,000 non-flow through units at $0.125 cents for gross proceeds of $100,000
Proceeds are to advance the Company’s Brandywine project, in British Columbia, Canada, the Bayhorse Silver Mine, Oregon, USA, and for general and corporate purposes.
Bayhorse CEO, Graeme O’Neill has subscribed for 1,200,000 flow-through Units and 800,000 non flow through units for gross proceeds to the Company of $250,000. He has funded his subscriptions through the sale, both privately, and through the facilities of the TSX Venture Exchange, of 2,500,000 common shares of the Company. Bayhorse CFO, Rick Low, has subscribed for 100,000 flow through shares for gross proceeds to the Company of $12,500.
In addition to any other exemption available to the Company, participation in the non-brokered 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.
The Company has, subject to Exchange approval, extended the expiry dates of 1,524,500 warrants expiring December 27, 2019, 2,231,500 warrants expiring January 18, 2020, and 3,768,500 warrants expiring March 2, 2020, to March 2, 2021. The warrants are exercisable into common shares of the Company at $0.30 cents per share.
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
company@bayhorsesilver.com
1-866-399-6539
