Bayhorse Silver To Present Ore-Sorting Case Study At Mines& Technology Vancouver Conference, Amends Financing

Posted on May 22, 2019 in News Release

BHS 2019-15 May 22, 2019

Bayhorse Silver Inc. BHS: TSX-V (the “Company” or “Bayhorse“) is pleased to report that CEO Graeme O’Neill will be presenting a case study on Ore-Sorting technology in use at its low environmental impact, high grade, Bayhorse Silver Mine, Oregon, USA, at the upcoming  Mines & Technology Vancouver 2019 at Pan Pacific Hotel Conference Center, June 4 – 6.

The
Company also announces that, further to its news release dated April 17, 2019, and
subject to the approval of the TSX Venture Exchange, it has amended its
previously announced private placement of 7,500,000 flow-through units at a
price of $0.125 per unit. 

The
non-brokered private placement will now consist of 2,500,000 flow-through units
at a price of $0.10 per unit for gross proceeds of $250,000 (the “Flow-Through Units”) and 3,500,000
non-flow units at a price of $0.075 per unit for gross proceeds of $262,500 (the
Non-Flow Through Units”), to raise
an aggregate of $512,500 (collectively, the “Private Placement”). 

Each Flow-Through
Unit will consist of one flow-through common share and one transferable common
share purchase warrant exercisable into one common share of the Company at an
exercise price of $0.15 cents for a period of twelve months from the date of
issuance.

Each
Non-Flow Through Unit will consist of one common share and one transferable
common share purchase warrant exercisable into one common share of the Company
at an exercise price of $0.15 cents for a period of twelve months from the date
of issuance.

Under the terms of the Private Placement, Bayhorse has
the right to accelerate the expiry date of the flow-through warrants and the
non-flow through warrants if, at any time subsequent to four months and one day
after the closing date, the average closing price of Bayhorse’s common shares
is equal to or greater than $0.20 for ten consecutive trading days. In the
event of acceleration, the expiry date will be accelerated to a date that is 30
days after Bayhorse issues a news release announcing that it has elected to
exercise this acceleration right.

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 terms
of the Private Placement are subject to the approval of the TSX Venture
Exchange.

On
Behalf of the Board.

Graeme
O’Neill, CEO

604-684-3394

Bayhorse
Silver Inc., a junior exploration company, has earned 100% interest in the
historic Bayhorse Silver Mine Oregon, USA. and has optioned the Brandywine,
precious metals rich, volcanogenic massive sulphide property located in BC,
Canada. 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.

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