November 29, 2020 BHS2020-28
Bayhorse Silver Inc. (BHS: TSX-V) (the “Company” or “Bayhorse”) announces that it has closed a first tranche of its flow-through non-brokered private placement announced on November 26, 2020. The Company raised gross proceeds of $200,000 from issuing 1,600,000 flow-through Units at $0.125 cents per Unit.
Each flow-through Unit consists of one common share and one transferable common share purchase warrant, with each warrant exercisable into one common share of the Company at $0.20 per common share two years from the date of issuance.
Bayhorse CEO, Graeme O’Neill, has subscribed for 130,000 Units. He has funded his acquisition through the sale, both privately and through the facilities of the TSX Venture Exchange of 200,000 shares of the Company. Rick Low, an Officer of the Company, has subscribed for 100,000 Units. The securities issued are subject to a hold period of four months and a day from date of issuance.
The flow-through private placement is to fund the Harrison Gold exploration and earn in program.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content.