Bayfield Ventures Closes First Tranche of Financing
15 5월 2014 - 12:34AM
Marketwired
Bayfield Ventures Closes First Tranche of Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 14, 2014) -
Bayfield Ventures Corp.
(TSX-VENTURE:BYV)(PINKSHEETS:BYVVF)(FRANKFURT:B4N) announces,
further to its news releases of April 22nd and May 2nd, it has
closed the first tranche of its non-brokered private placement and
has issued a total of 1.83 million non-flow-through units (the
"Units") at a price of $0.25 per Unit to raise gross proceeds of
$457,500. Each Unit consists of one common share in the capital of
the Company ("Unit Shares") and one non-transferable common share
purchase warrant (a "Warrant"), with each Warrant entitling the
holder to purchase one additional common share at a price of $0.255
per share until May 16, 2016.
In connection with the closing of the first tranche of the
financing, the Company issued a total of 72,100 finder's warrants
(the "Finder's Warrants") to finders who introduced certain
subscribers to the private placement. The Finder's Warrants are on
the same terms as the Unit Warrants. The Company also paid to
finders a cash total of $18,025 in connection with this financing.
The Unit Shares and Warrants issued under the private placement and
any shares issued pursuant to the exercise of the Warrants and
Finder's Warrants are subject to a four month and one day hold
period until September 06, 2014 under applicable securities laws
and imposed by the TSX Venture Exchange.
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
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.Don MyersDirector604-687-3376 or Toll
Free: 800-567-8181604-687-3119info@bayfieldventures.comEnvoy
Strategic Partners Investor RelationsJay
Bedard416-977-7778jay@envoystrategicpartners.com
(TSXV:BYV)
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