Bayhorse Silver Closes Its Recently Announced 25 Million Unit Private Placement For Ongoing Work at The Bayhorse Silver Mine and IP Survey On Its Adjacent Pegasus Project, Idaho, USA
Summary
Vancouver, British Columbia--(Newsfile Corp. - September 18, 2025) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (the "Company" or "Bayhorse") announces that it has closed the final tranche of its non-brokered private placement that was announced on September 10, 2025, consisting of 25,000,000 Units for gross proceeds of $1,000,000.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 an IP survey (48%) to further define drill targets on the Pegasus Project for both Bayhorse style silver mineralization and test for the presence of a porphyry copper deposit, to advance the final Bayhorse Mine permitting (31%), and for general and administrative expenses (21%).Subject to the approval of the TSX Venture Exchange, the Company will pay cash finders fees of $38,640 and issue 966,000 finders warrants, which are exercisable into one common share of the Company at a price of $0.06 cents per common share for a period of 24 months from the date of issuance.Bayhorse CEO, Graeme ONeill, has subscribed for 8,552,125 Units that he has funded through arranged sales privately through the facilities of the TSX venture Exchange. The Bayhorse Silver Mine and the Pegasus Project are 44 km southwest of Hercules Metals porphyry copper discovery. The Company has established an up to 60 ton/day mill and standard flotation processing facility in nearby Payette County, Idaho, USA, with an offtake agreement in place with Ocean Partners UK Limited. 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.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266964