Mr. Peter Ho reports
BAYSHORE PETROLEUM EXTENDS PRIVATE PLACEMENT FINANCING
Bayshore Petroleum Corp. has received TSX Venture Exchange approval to extend the non-brokered private placement financing first announced on June 11, 2015. A first tranche of the financing was closed on June 30, 2015, in the amount of $259,200. This tranche distributed 2.16 million units at 12 cents per unit, each unit consisting of one common share in the capital of Bayshore and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share of the company at an exercise price of 30 cents per share for a term of 18 months from closing. A maximum of 7.84 million units/$940,800 remain to be distributed in the next tranche of this financing, which is now extended until Aug. 31, 2015.
We seek Safe Harbor.
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