Mr. Graeme O'Neill reports
BAYHORSE INCREASES FLOW-THROUGH FINANCING AND CLOSES FINAL TRANCHE
Bayhorse Silver Inc. has, subject to TSX Venture Exchange approval, increased its previously announced five-million-unit flow-through private placement from five million units to 5.3 million units and closed the final tranche of 1.94 million units for gross proceeds of $242,500. Each flow-through unit will consist of one common share of the company and one transferable common share purchase warrant exercisable into one common share of the company at an exercise price of 20 cents for two years from date of issuance.
The funds raised are for the purpose advancing the company's readily accessible Brandywine volcanogenic massive sulphide (VMS) high-grade gold project close to Vancouver, B.C.
Finders' fees may be payable on a portion of the financing not taken down by insiders according to the policies of the TSX Venture Exchange.
Rick Low, an officer of the company, has subscribed for a total of 100,000 units of the placement.
Securities issued under this placement will be subject to a four-month-plus-one-day hold period from the date of issuance.
About Bayhorse Silver Inc.
Bayhorse Silver is an exploration and production company with a 100-per-cent interest in the historic Bayhorse silver mine located in Oregon, United States, and an option on the Brandywine precious-metal-rich VMS property located in B.C., Canada.
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