05/23/2019 | Press release | Distributed by Public on 05/22/2019 22:48
BHS 2019-15 May 22, 2019
Bayhorse Silver Inc. BHS: TSX-V (the 'Company' or 'Bayhorse') is pleased to report that CEO Graeme O'Neill will be presenting a case study on Ore-Sorting technology in use at its low environmental impact, high grade, Bayhorse Silver Mine, Oregon, USA, at the upcoming Mines & Technology Vancouver 2019 at Pan Pacific Hotel Conference Center, June 4 - 6.
Company also announces that, further to its news release dated April 17, 2019, and
subject to the approval of the TSX Venture Exchange, it has amended its
previously announced private placement of 7,500,000 flow-through units at a
price of $0.125 per unit.
non-brokered private placement will now consist of 2,500,000 flow-through units
at a price of $0.10 per unit for gross proceeds of $250,000 (the 'Flow-Through Units') and 3,500,000
non-flow units at a price of $0.075 per unit for gross proceeds of $262,500 (the
'Non-Flow Through Units'), to raise
an aggregate of $512,500 (collectively, the 'Private Placement').
Unit will consist of one flow-through common share and one transferable common
share purchase warrant exercisable into one common share of the Company at an
exercise price of $0.15 cents for a period of twelve months from the date of
Non-Flow Through Unit will consist of one common share and one transferable
common share purchase warrant exercisable into one common share of the Company
at an exercise price of $0.15 cents for a period of twelve months from the date
Under the terms of the Private Placement, Bayhorse has
the right to accelerate the expiry date of the flow-through warrants and the
non-flow through warrants if, at any time subsequent to four months and one day
after the closing date, the average closing price of Bayhorse's common shares
is equal to or greater than $0.20 for ten consecutive trading days. In the
event of acceleration, the expiry date will be accelerated to a date that is 30
days after Bayhorse issues a news release announcing that it has elected to
exercise this acceleration right.
addition to any other exemption available to the Company, participation in the Private
Placement is also open to all existing 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
Proceeds of the financing are to fund the upcoming exploration program
on the Company's newly acquired Brandywine gold/silver project, the Bayhorse
Silver Mine, and for general and administrative costs.
of the Private Placement are subject to the approval of the TSX Venture
Behalf of the Board.
Silver Inc., a junior exploration company, has earned 100% interest in the
historic Bayhorse Silver Mine Oregon, USA. and has optioned the Brandywine,
precious metals rich, volcanogenic massive sulphide property located in BC,
Canada. The Company has an experienced management and technical team with extensive
exploration and mining expertise.
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.