June 30, 2016 BHS2016-09
BAYHORSE SILVER CEO INCREASES SHAREHOLDING TO 19% OF OUTSTANDING SHARES OF BAYHORSE
Bayhorse Silver Inc. (the “Company” or “Bayhorse“) reports that HighCard Exploration, a company controlled by Bayhorse CEO Graeme O’Neill, and Graeme O’Neill, have converted $250,000 in debt owed to them by the Company into 2,232,143 common shares of Bayhorse at a 20% discount to the June 30, 2016 closing price, as permitted by TSX-V policy. Graeme O’Neill now owns or controls 6,017,117 common shares of Bayhorse, or 19% of the Company’s issued and outstanding shares.
Due to the market uncertainty from the recent BREXIT Referendum results, the Company is extending the closing of its previously announced US$ Convertible, Silver Convertible, Net Revenue Participation Debenture placement for a further 30 days. The new closing date is August 4, 2016. The Company has granted 225,000 incentive stock options to Officers, Directors and Consultants to the Company exercisable for five years at a price of $0.12 cents per common share.