Bayfield Ventures Closes Final Tranche of Financings, Raises $1,126,700
31 5월 2014 - 12:25AM
Marketwired
Bayfield Ventures Closes Final Tranche of Financings, Raises
$1,126,700
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2014) -
Bayfield Ventures Corp.
(TSX-VENTURE:BYV)(PINKSHEETS:BYVVF)(FRANKFURT:B4N) announces,
further to its news releases of April 22nd, May 2nd, 14th &
15th, that it has closed the third and final tranche of its
non-brokered private placements and has issued a total of 696,000
non flow-through units (the "Units") at a price of $0.25 per Unit
to raise gross proceeds of $174,000. Each Unit consists of one
common share 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 non
flow-through common share at a price of $0.255 per share until May
22, 2016.
In connection with the closing of the third tranche of the
financing, the Company issued a total of 23,800 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 above Unit Warrants. The Company also paid to
finders a cash total of $5,600 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 23, 2014 under applicable securities laws
and imposed by the TSX Venture Exchange.
Bayfield Ventures raised gross proceeds of $1,126,700 from these
private placements which will be utilized 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
In other news, Bayfield has entered into an agreement with Star
Finance GmbH for European investor relations and corporate
communications services. Star Finance is a Swiss company owned by
Michael Adams, with offices in Steinhausen, Switzerland and
Cologne, Germany. The services provided by Star Finance will
include Company information dissemination through email, social
media and personal contact in both the retail investment arena and
the institutional investment sector. For its services, the Company
has paid Star Finance a one time payment of $25,000 and the
agreement will have a six month term commencing May 1, 2014. The
agreement with Star Finance is subject to the acceptance by 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
DONALD C. HUSTON, President
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.Donald C. HustonPresident604-687-3376 or
Toll Free: 800-567-8181Bayfield Ventures Corp.Don
MyersDirector604-687-3376 or Toll Free:
800-567-8181604-687-3119info@bayfieldventures.comEnvoy Strategic
PartnersJay BedardInvestor
Relations416-977-7778jay@envoystrategicpartners.com
(TSXV:BYV)
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