Bayhorse Silver Announces $750,000 Financing - Closes $325,000 First Tranche
VANCOUVER, BC / ACCESSWIRE / April 25, 2017 / Bayhorse Silver Inc. (TSX-V: BHS) (OTC PINK: KXPLF) (the "Company" or "Bayhorse") announces that, subject to TSX-V approval, it is conducting a non-brokered private placement of up to 5,000,000 Units at $0.15 per Unit for gross proceeds of up to $750,000 and has closed a first tranche for gross proceeds of $325,000.
Each Unit will consist of one (1) common share and one (1) transferable common share purchase warrant, with each warrant exercisable into one (1) common share of the Company at an exercise price $0.25, exercisable for a period of 24 months from the date of issuance.
The funds raised will be used for the extraction of up to 10,000 tons of mineralized material from the Bayhorse Silver Mine, as well as general and administrative costs.
Finder fees may be payable on a portion of the financing not taken down by insiders according to the policies of the TSX-V. Graeme O'Neill, a Director and Officer of the Company, has subscribed for 500,000 Units.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents.
On Behalf of the Board,
Graeme O'Neill, President, (604) 684-3394
Bayhorse Silver Inc., a junior exploration company, is earning an 80% interest in the historic Bayhorse Silver Mine, Oregon, USA. Bayhorse is also earning a 75% interest in the past producing Bridging the Gap Project, consisting of ASARCO's historic Crown Point, Silver King, Ranger, Wyoming, Curlew, and Blackhawk silver/lead/zinc mines in Idaho's Silver Valley. The Company has an experienced management and technical team with extensive exploration and mining expertise.
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.
SOURCE: Bayhorse Silver Inc.
