|By Marketwired .||
|June 27, 2014 03:50 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/27/14 -- Bayhorse Silver Inc. ("Bayhorse" or the "Company") (TSX VENTURE:BHS), announces that, subject to TSX-V approval, it has closed a first tranche of 1,500,000 Units of its previously announced 5,000,000 Unit non-brokered private placement, for gross proceeds of $150,000.
Each Unit consists 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 of $0.15, exercisable for a period of 30 months from the date of issuance.
The proceeds of the private placement will be used for the Bayhorse Silver Project, New Zealand Gold Projects, and general and administrative costs.
Mr. Graeme O'Neill, a director and officer of the Company, subscribed for 900,000 Units of the placement and upon completion of the placement, will hold 3,057,212 common shares, representing 14.7% of the Company's issued and outstanding shares. The price of the Units was determined in accordance with the policies of the TSX Venture Exchange. The acquisition of Units by insiders under the private placement was exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 pursuant to sections 5.5(a) and 5.7(a) of that instrument.
All securities issued under the private placement are subject to a four-month hold period which expires October 28, 2014.
Bayhorse Silver Inc. is a junior exploration company that is earning an 80% interest in its newly acquired historic Bayhorse Silver Mine that has the potential for a substantial silver discovery. It has a 100% interest in its three major high grade New Zealand gold prospects (Alexander River, Paparoa and Red Queen), in the highly prolific West Coast South Island gold fields of New Zealand, which offers investors the potential for a major gold discovery.
The Company has a 30% Net Profit Interest in the Flagstaff barite mine in Washington State, where work is currently in progress. The Company has an experienced management and technical team with extensive exploration expertise. 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
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.
Bayhorse Silver Inc.
Sep. 29, 2016 04:00 AM EDT Reads: 1,802
Sep. 29, 2016 04:00 AM EDT Reads: 1,204
Sep. 29, 2016 03:45 AM EDT Reads: 4,818
Sep. 29, 2016 03:30 AM EDT Reads: 1,375
Sep. 29, 2016 03:30 AM EDT Reads: 3,027
Sep. 29, 2016 03:15 AM EDT Reads: 3,571
Sep. 29, 2016 03:15 AM EDT Reads: 1,905
Sep. 29, 2016 03:00 AM EDT Reads: 1,861
Sep. 29, 2016 02:45 AM EDT Reads: 1,717
Sep. 29, 2016 02:30 AM EDT Reads: 515
Sep. 29, 2016 02:30 AM EDT Reads: 2,174
Sep. 29, 2016 02:00 AM EDT Reads: 1,590
Sep. 29, 2016 01:45 AM EDT Reads: 2,057
Sep. 29, 2016 01:45 AM EDT Reads: 1,334
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 29, 2016 01:00 AM EDT Reads: 2,306