Bayhorse Closes First Tranche of Private Placement
August 23, 2023 BHS2023-07
BAYHORSE CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Bayhorse Silver Inc, (BHS: TSX-V , BHSIF: OTCQB, 7KXN: FRANKFURT ) (the “Company”
or “Bayhorse”) announces that, subject to the approval of the TSX Venture Exchange, it has closed a
first tranche of 4 million Units of its non-brokered private placement dated August 22, 2023, for gross
proceeds of $60,000.
Each unit consists of one common share, and one transferrable common share purchase warrant, each
warrant exercisable into one common share of the Company at a p rice of $0.05 cents per common
share for a period of 15 months from issuance.
Bayhorse Silver CEO, Graeme O’Neill, has subscribed for 4 million units of the private placement. He
has funded his subscription partly through arranged sales and through the facility of the TSX Venture
Exchange. This participation by Bayhorse’s CEO constitutes a “r elated party transaction” as defined
under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions
(“MI 61-101”). Such participatio n is exempt from the formal val uation and minority shareholder
approval requirements of MI 61-101 as neither the fair market value of the units acquired by the insider,
nor the consideration for the units paid by such insider, excee d 25% of the Company’s market
capitalization.
The funds received are to complete the deficiencies on the Company’s full operating permit application
for the Bayhorse Silver Mine, to complete the reclamation of th e Flagstaff propert y and for general
and administrative expenses.
In addition to any other exemption available to the Company, pa rticipation in the non-brokered
financing is also open to all existing Canadian 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.
Finder fees may be payable on a portion of the financing not ta ken down by insiders according to the
policies of the TSX-V Exchange.
Securities issued under this placement will be subject to a four month plus a day hold period from the
date of issuance.
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 w ith 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 min eralization per day and the ability to
process and supply 3,600 tons per year of silver/copper/antimon y 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 extensiv e 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 res ponsibility for the adequacy or accuracy of this
release.