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07:21:40 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Bayhorse Silver Inc
Symbol BHS
Shares Issued 249,479,290
Close 2023-08-28 C$ 0.015
Market Cap C$ 3,742,189
Recent Sedar Documents

Bayhorse closes $60,000 1st tranche of financing

2023-08-28 17:03 ET - News Release

Subject: BHS2023-07 NR Word Document File: '\\swfile\EmailIn\20230828 135614 Attachment BHS2023-07.docx' August 23, 2023 BHS2023-07 BAYHORSE CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the "Company" or "Bayhorse") announces that, subject to the approval of the TSX Venture Exchange, it has closed a first tranche of 4 million Units of its non-brokered private placement dated August 22, 2023, for gross proceeds of $60,000. Each unit consists 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 15 months from issuance. Bayhorse Silver CEO, Graeme O'Neill, has subscribed for 4 million units of the private placement. He has funded his subscription partly through arranged sales and through the facility of the TSX Venture Exchange. This participation by Bayhorse's CEO constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units acquired by the insider, nor the consideration for the units paid by such insider, exceed 25% of the Company's market capitalization. The funds received are to complete the deficiencies on the Company's full operating permit application for the Bayhorse Silver Mine, to complete the reclamation of the Flagstaff property and for general and administrative expenses. 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/antimony 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.

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