Bayhorse Silver Announces It Has Increased Its Previously Announced Private Placement To 25 Million Units For Ongoing Work at The Bayhorse Silver Mine and IP Survey On Its Adjacent Pegasus Project, Idaho, USA, as well as Shares for Debt Settlement.
September 10, 2025. BHS25-21
Bayhorse Silver Announces It Has Increased Its Previously Announced Private Placement To 25 Million Units For Ongoing Work at The Bayhorse Silver Mine and IP Survey On Its Adjacent Pegasus Project, Idaho, USA, as well as Shares for Debt Settlement.
Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) announces, subject to the approval of the TSX Venture Exchange, an up to twenty-five-million-unit non-brokered private placement at four cents per unit for gross proceeds of $1,000,000.
Each unit will consist of one common share and one transferable common share purchase warrant. Each warrant will be exercisable into one common share of the Company at a price of six cents per common share for a period of 24 months from the date of issuance.
The funds received are to conduct an IP survey (48%) to further define drill targets on the Pegasus Project for both Bayhorse style silver mineralization and test for the presence of a porphyry copper deposit, to advance the final Bayhorse Mine permitting (31%), and for general and administrative expenses (21%).
None of the private placement proceeds will be paid to non-arm’s-length parties or persons conducting investor relations activities. In addition to any other exemption available to the company, participation in the non-brokered financing 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.
Finders’ fees may be payable on a portion of the financing not taken down by insiders according to the policies of the TSX Venture Exchange.
In addition, the Company has agreed to settle outstanding indebtedness owing indirectly to Donna Moroney, Corporate Secretary of the Company, in the sum of C$59,579 by the issuance of an aggregate of 1,489,475 common shares in the capital stock of the Company at a price of $0.04 per share, which transaction is subject to the approval of the TSX Venture Exchange.
The issuance of the debt settlement shares constitutes a “related party transaction” under MI 61-101. The Company is exempt from the MI 61-101 valuation and minority approval requirements for related party transactions in connection with the shares for debt transaction under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) nor the fair market value of the consideration for the transaction exceeds 25% of the Company’s market capitalization (as determined under MI 61-101).
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content.
On Behalf of the Board.
Graeme O’Neill, CEO
