Bayhorse Silver Closes First Tranche Of Its Recently Announced 20 Million Unit Non-Brokered Private Placement For The Diamond Drill Program at the Bayhorse Silver Mine, Oregon, And IP Survey On Its Adjacent Pegasus Project, Idaho, USA.
May 9, 2025. BHS25-09
Bayhorse Silver Closes First Tranche Of Its Recently Announced 20 Million Unit Non-Brokered
Private Placement For The Diamond Drill Program at the Bayhorse Silver Mine, Oregon, And IP
Survey On Its Adjacent Pegasus Project, Idaho, USA.
Bayhorse Silver Inc, (BHS: TSX -V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company”
or “Bayhorse”) announces that it has closed a first tranche consisting of 4,475,000 units of its
previously announced twenty million unit non-brokered private for gross proceeds of $179,000.
Each unit consists of one common share and one transferable common share purchase warrant. Each
warrant will be exercisable into one common share of the company at a price of six cents per common
share for a period of 24 months from the date of issuance.
The funds received are to conduct the diamond drilling program on the recently identified IP low -
resistivity targets at the Bayhorse Silver Mine (25%), an IP survey to further define drill targets on the
Pegasus Project to test for the presence of a porphyry copper deposit (30%), to advance the final
Bayhorse Mine permitting (25%), and for general and administrative expenses (20%).
Bayhorse CEO Graeme O’Neill has subscribed for 3,750,000 Units. This participation by Bayhorse’s
CEO constitutes a “related party transaction” as defined under Multilateral Instrument 61 -101
Protection of Minority Security Holders in Special Transactions (“MI 61 -101”). Such participation is
exempt from the formal valuation 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 exceed 25% of the Company’s market capitalization.
None of the private placement proceeds will be paid to non-arm's-length parties or persons conducting
investor relations activities. In addition to any other exemption available to the company, participation
in the non-brokered financing 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.
Finders' fees may be payable on a portion of the financing not taken down by insiders according to the
policies of the TSX Venture Exchange.
Securities issued under this placement will be subject to a hold period expiring on September 10, 2025.
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
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 and the Pegasus Project, in Washington County, Idaho.
The Bayhorse Silver Mine and the Pegasus Project lies 44 km southwest of Hercules Metals’ porphyry
copper discovery. The Bayhorse Mine includes a state-of-the-art Steinert Ore -Sorting technology
reducing waste rock entering the processing stream by up to 85% . The Company has 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 Compa ny 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.