Bayfield Ventures Increases Financings to $1,750,000
03 5월 2014 - 12:52AM
Marketwired
Bayfield Ventures Increases Financings to $1,750,000
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 2, 2014) -
Bayfield Ventures Corp. (TSX-VENTURE:BYV)
(PINKSHEETS:BYVVF)(FRANKFURT:B4N)announces, further to its news
release of April 22nd, that it has increased its non-brokered
private placement to up to 4,000,000 units (the "Unit") at a price
of $0.25 per unit to raise proceeds of up to $1,000,000. Each Unit
consists of one common share and one non-transferable share
purchase warrant (the "Warrant"). Each Warrant will entitle the
holder to purchase one common share for a period of two years at a
price of $0.255 per share.
Bayfield has also increased its non-brokered private placement
to up to 2,500,000 flow-through units (the "FT Units") at a price
of $0.30 per FT Unit to raise proceeds of up to $750,000. Each FT
Unit consists of one flow-through common share and one
non-transferable non flow-through warrant (the "NFT Warrant"). Each
NFT Warrant will entitle the holder to purchase one non
flow-through common share for a period of two years at a price of
$0.35 per share.
Bayfield Ventures intends to utilize the proceeds from these
private placements for a planned exploration and drill program on
its 100% owned Burns Block and "B" Block gold-silver projects
located in the Rainy River district of north-western Ontario and
for general working capital purposes. The Company's planned
exploration and drill program will follow report recommendations
contained in the recently completed Independent Mineral Resource
Estimate entitled "BURNS BLOCK NATIONAL INSTRUMENT 43-101 COMPLIANT
TECHNICAL REPORT," dated January 14, 2014 prepared by Riverbend
Geological Services Inc. and a Technical Report entitled ""B" BLOCK
NATIONAL INSTRUMENT 43-101 COMPLIANT TECHNICAL REPORT," dated Feb.
14, 2014.
Rainy River
District Gold Zones:
http://www.bayfieldventures.com/i/maps/BYV-Burns-Gold-Zones-NOV-2012.jpg
A finder's fee of up to 7% cash and 7% non-transferable NFT
warrants (the "Finder's Warrants") may be paid in connection with
these private placement offerings. Each Finder's Warrant will
entitle the Finder to purchase a common share at a price of $0.255
per share for the NFT Units and $0.35 per share for the FT Units
for a period of two years from the closing date of the private
placements.
All the securities issuable will be subject to a four-month hold
period from the date of closing. The above transactions are subject
to the acceptance of the TSX Venture Exchange.
About Bayfield Ventures Corp.:
Bayfield Ventures Corp. is exploring for gold and silver in the
Rainy River District of north-western Ontario. Bayfield Ventures
goal is to increase shareholder value by developing exploration
projects near world-class deposits that have the potential of
becoming new discoveries.
For further information on Bayfield Ventures Corp.
(TSX-VENTURE:BYV), visit the Company's web site at
www.bayfieldventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit, Chairman and CEO
NEITHER THE
TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS
NEWS RELEASE.
This release includes certain statements that may be deemed to
be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expects, are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further information.
Bayfield Ventures Corp.James G. PettitChairman and
CEO604-687-3376 or Toll Free: 800-567-8181604-687-3119Bayfield
Ventures Corp.Don MyersDirector604-687-3376 or Toll Free:
800-567-8181604-687-3119info@bayfieldventures.comwww.bayfieldventures.comEnvoy
Strategic Partners Investor RelationsJay
Bedard416-977-7778jay@envoystrategicpartners.com
(TSXV:BYV)
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