Dark Streaming/Mobile Old Site Home Products Help Contact Us Your Account System Status
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS
07:21:55 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Bayhorse Silver Inc
Symbol BHS
Shares Issued 251,479,290
Close 2023-07-10 C$ 0.015
Market Cap C$ 3,772,189
Recent Sedar Documents

Bayhorse arranges $100,000 private placement

2023-07-10 09:33 ET - News Release

Subject: BHS2023-05NR Word Document File: '\\swfile\EmailIn\20230710 061958 Attachment BHS2023-05.docx' July 10, 2023 BHS2023-05 BAYHORSE ANNOUNCES PRIVATE PLACEMENT Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the "Company" or "Bayhorse") Announces a non-brokered private placement for 5 million units at $0.02 cents per unit for gross proceeds of $100,000. Each unit will consist of one common share, and one transferrable common share purchase warrant, each warrant exercisable into one common share of the Company at a price of $0.05 cents per common share for a period of 15months. The funds received are to complete the deficiencies on the Company's Full Operating Permit application for the Bayhorse Silver Mine, and to complete the reclamation of the Flagstaff property. Subject to receipt of funds, the Company believes the outstanding reclamation work will take approximately one week to complete, whereupon the US$140,000 cash reclamation bond held by the US BLM can be returned to the Company. The remaining work to be completed for the Bayhorse Mine Full Operating Permit submissions, are a noise baseline study, completion of surface water sampling analysis, results of which are pending, and ground water analysis testing. Bayhorse CEO, Graeme O'Neill, reports recent analysis of the silver market conditions from Sprott Money, where the report states "Physical Silver is at an all time high, while Comex Silver is at an 11 year low". The Silver Institute reports that 2022 demand for silver outpaced supply in 2022 by 240,000,000 ounces and a report on the recent Mining regulation changes in Mexico, may also negatively affect the rate of its silver production.. The reports indicate there appears to be a significant disconnect between supply and demand, and with the Silver/Gold ratio still staying stubbornly over 80:1 that may soon be positively resolved. In addition to any other exemption available to the Company, participation in the non-brokered financing is also open to all existing Canadian 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. Finder fees may be payable on a portion of the financing not taken down by insiders according to the policies of the TSX-V Exchange. Securities issued under this placement will be subject to a four month plus a day hold period from the date of issuance. 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 866-399-6539, 604-684-3394 About Bayhorse Silver Inc. Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine located in Oregon, USA. With state of the art Steinert Ore-Sorting technology reducing waste rock entering the processing stream by up to 85%, we have created a minimum environmental impact facility capable of mining 200 tons of mineralization per day and the ability to process and supply 3,600 tons per year of silver/copper concentrate ranging between 7,500 to 15,000 g/t using standard flotation processing at its milling facility in nearby Payette County, Idaho, USA, with an offtake agreement in place with Ocean Partners UK Limited. The Company also has an option to acquire an 80% interest in the Brandywine high grade silver/gold property located in B.C. Canada. The Company has an experienced management and technical team with extensive mining expertise in both exploration and building mines. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. https://www.iiroc.ca/markets/trade-surveillance/surveillance-contacts/news-release-vetting-request

© 2024 Canjex Publishing Ltd. All rights reserved.