Bayfield Ventures Closes Second Tranche of Financing
15 5월 2014 - 11:00PM
Marketwired
Bayfield Ventures Closes Second Tranche of Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 15, 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 second tranche of its non-brokered private placements
and has issued a total of 1,667,334 flow-through units (the
"Units") at a price of $0.30 per Unit to raise gross proceeds of
$500,200. Each Unit consists of one common share of the Company
("Unit Shares") and one non-transferable non flow-through common
share purchase warrant (a "Warrant"), with each Warrant entitling
the holder to purchase one additional non flow-through common share
at a price of $0.35 per share until May 06, 2016. The Company has
also issued 100,000 non flow-through units at a price of $0.25 per
Unit to raise gross proceeds of $25,000. Each Unit consists of one
common share of the Company and one non-transferable non
flow-through common share purchase warrant, with each Warrant
entitling the holder to purchase one additional non flow-through
common share at a price of $0.255 per share until May 06, 2016.
In connection with the closing of the second tranche of the
financings, the Company issued a total of 109,713 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 flow-through Unit Warrants. The Company also
paid to finders a cash total of $32,414 in connection with these
financings. 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/BYVRRMapwopit.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.Jim PettitChairman and CEO604-687-3376 or
Toll Free: 800-567-8181Bayfield Ventures Corp.Don
MyersDirector604-687-3376 or Toll Free:
800-567-8181604-687-3119info@bayfieldventures.comEnvoy Strategic
Partners Investor RelationsJay
Bedard416-977-7778jay@envoystrategicpartners.comwww.bayfieldventures.com
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