Bayhorse Increases Previously Announced Flow Through Private Placement

Posted on Jun 17, 2019 in News Release

June 17, 2019                                                                                           BHS2019-18

BAYHORSE INCREASES
PREVIOUSLY ANNOUNCED FLOW-THROUGH PRIVATE PLACEMENT

Bayhorse
Silver Inc. BHS: TSX-V
(the “Company” or “Bayhorse“)  announces that, subject to the approval of the
TSX Venture Exchange, it has increased its previously announced  non-brokered private placement to consist of 3,00,000
flow-through units at a price of $0.10 per unit for gross proceeds of $300,000 (the
Flow-Through Units”) and 4,000,000
non-flow units at a price of $0.075 per unit for gross proceeds of $300,000 (the
Non-Flow Through Units”), to raise
an aggregate of $600,000 (collectively, the “Private Placement”). 

Each Flow-Through
Unit consists of one flow-through common share and one transferable common
share purchase warrant exercisable into one non-flow through common share of
the Company at an exercise price of $0.125 cents for a period of thirty six
months from the date of issuance.

Each
Non-Flow Through Unit consists of one common share and one transferable common
share purchase warrant exercisable into one common share of the Company at an
exercise price of $0.125 cents for a period of thirty six months from the date
of issuance.

In
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
participating jurisdictions.

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.

The
Company has granted 500,000 incentive stock options to
Officers, Directors, and Consultants to the Company, exercisable at C$0.10
cents that fully vest on the date of grant and have a term of five years.

On
Behalf of the Board.

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