Bayhorse Silver Announces $300,000 Non-Brokered Private Placement

Posted on Dec 27, 2013 in News Release

Bayhorse Silver Inc. (the “Company” or “Bayhorse“) announces that, subject to TSX-V approval, it is conducting a non-brokered private placement of up to 3,000,000 Units at $0.10 per Unit for gross proceeds of up to $300,000.
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 $0.20, exercisable for a period of 30 months from the date of issuance.
The funds raised will be used for the Bayhorse silver project, New Zealand Gold Projects, costs associated with the Spinco by way of plan of arrangement, that was approved by shareholders at the Company’s recent Annual and Special General Meeting, 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.
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Bayhorse Silver Inc. is a junior exploration company with a 100% interest in its three major high grade New Zealand gold prospects (Alexander River, Paparoa and Lyell), in the highly prolific West Coast South Island gold fields of New Zealand, where it offers investors the potential for a major gold discovery and is earning an 80% interest in its newly acquired historic Bayhorse Silver Mine that has the potential for a substantial silver discovery. 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”

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.

Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company, including with respect to completion of the Plan of Arrangement and the anticipated results thereof. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. There is no guarantee that the Plan of Arrangement or the acquisition of a business by Spinco will be completed as proposed or at all. The Plan of Arrangement remains subject to approval of the Supreme Court of British Columbia and the TSX Venture Exchange. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf except as required by law.