Mr. Richard Wilson reports
Baroyeca Gold & Silver Inc. has closed its private placement previously announced in February, 2012, by which it has sold $328,999.95 of its securities, consisting of 2,193,333 units at a price of 15 cents per unit, each unit consisting of one common share and one non-transferable share purchase warrant, each such warrant entitling the holder to acquire one additional common share at a price of 20 cents per share for one year. In conjunction with the private placement, the company has agreed to pay finders' fees of $8,820 in cash. The private placement is subject to final acceptance by the exchange.
The company also announces that Erik Ostensoe, after five years of service, has resigned as a director of the company. The company thanks Mr. Ostensoe for his contribution to the company over those five years and wishes him great success in his further endeavours.