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Bayhorse Closes First Tranche of Flow-Through Financing

04.08.2020  |  Newsfile

Vancouver, August 4, 2020 - Bayhorse Silver Inc. (TSXV: BHS) (the "Company" or "Bayhorse") has closed the first tranche of the its previously announced 5 million Unit Flow-Through Private Placement for 3,360,000 Units for gross proceeds of $420,000. 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 $0.20 cents for two years from date of issuance.

In addition to any other exemption available to the Company, participation in the non-brokered financing 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 participating jurisdictions.

The funds raised are for the purpose advancing the Company's Brandywine gold project 40 minutes north of Vancouver, BC.

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.

Graeme O'Neill, a Director and Officer of the Company has subscribed for a total of 610,000 Units of the placement. He has funded a portion of his subscription through the sale, both privately and through the facilities of the TSX-Venture Exchange of 140,000 shares of the Company.

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 contents.

On Behalf of the Board,

Graeme O'Neill, CEO
company@bayhorsesilver.com
1-866-399-6539

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, and an option on the Brandywine, precious metals rich, volcanogenic massive sulphide property located in B.C., Canada. The Company has an experienced management and technical team with extensive mining expertise surrounding exploration and building mines.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61037


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