August 6, 2020 BHS2020-18
Bayhorse Silver Inc, BHS: TSX-V (the “Company” or “Bayhorse”) has, subject to TSX Venture Exchange approval, increased its previously announced 5 million Unit Flow-Through Private Placement from 5,000,000 Units to 5,300,000 Units and closed the final tranche of 1,940,000 Units for gross proceeds of $242,500. Each Flow-Through Unit will consist of one common share of the Company and one transferable common share purchase warrant exercisable into one common share of the Company at an exercise price of $0.20 cents for two years from date of issuance.
The funds raised are for the purpose advancing the Company’s readily accessible Brandywine, BC Volcanogenic Massive Sulphide (VMS) High Grade Gold Project, close to Vancouver, BC.
Finder fees may be payable on a portion of the financing not taken down by insiders according to the policies of the TSX-V Exchange.
Rick Low, an Officer of the Company has subscribed for a total of 100,000 Units of the placement.
Securities issued under this placement will be subject to a four month plus a day hold period from the date of issuance.
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