Bayhorse Announces Shares FOR Debt Settlement
September 25, 2023 BHS2023-08
BAYHORSE ANNOUNCES SHARES FOR DEBT SETTLEMENT
Bayhorse Silver Inc, (BHS: TSX -V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company”
or “Bayhorse”) announces that it has agreed to settle outstanding indebtedness owing indirectly to
Graeme O’Neill, CEO and a director of the Company, in the sum of C$30,000 by the issuance of an
aggregate of 2,000,000 common shares in the capital stock of the Company at a price of $0.015 per
share, which transaction is subject to the approval of the TSX Venture Exchange.
Mr. O’Neill currently directly and indirectly holds 8,571,075 common shares of the Company and
following closing of the shares for debt settlement will have ownership and control of 10 ,571,075
common shares representing 4.75% of the issued and outstanding shares of the Company.
The issuance of the debt settlement shares to Mr. O’Neill constitutes a "related party transaction"
under MI 61- 101. The Company is exempt from the MI 61- 101 valuation and minority approval
requirements for related party transactions in connection with the shares for debt transact ion under
sections 5.5(a) and 5.7(1)(a) of MI 61- 101 as neither the fair market value (as determined under MI
61-101) nor the fair market value of the consideration for the transaction exceeds 25% of the
Company's market capitalization (as determined under MI 61-101).
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which
accepts full responsibility for its content.
On Behalf of the Board.
Graeme O'Neill, CEO
866-399-6539, 604-684-3394
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. With state of the art Steinert Ore -Sorting technology
reducing waste rock entering the processing stream by up to 85%, we have created a minimum
environmental impact facility capable of mining 200 tons of mineralization per day and the ability to
process and supply 3,600 tons per year of silver/copper concentrate ranging between 7,500 to 15,000
g/t using standard flotation processing at its milling facility in nearby Payette County, Idaho, USA,
with an offtake agreement in place with Ocean Partners UK Limited. The Company also has an option
to acquire an 80% interest in the Brandywine high grade silver/gold property located in B.C. Canada.
The Company has an experienced management and technical team with extensive mining expertise in
both exploration and building mines.
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.