Bayshore Petroleum Corp Announces Private Placement Financing

CALGARY, ALBERTA--(Marketwired - Aug. 25, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Bayshore Petroleum Corp ("Bayshore" or the "Company") (TSX VENTURE:BSH) is pleased to announce that, subject to TSX Venture Exchange approval, it is marketing and intends to complete a non-brokered private placement, in total consisting of the sale of four million common shares at $0.185 per common share, producing gross proceeds of approximately $740,000 for the Company.

Proceeds of the Private Placement will be used to fund general corporate purposes and completion of the contractual arrangements required for the Company's first commercial heavy oil upgrading plant, to be located in Saskatchewan. This upgrading plant will employ the Cold Catalytic Cracking Process ("CCC") developed by the Chemical Foreign Economic Cooperation Centre ("CFECC") in Beijing. CFECC currently operates a pilot plant at their technical centre in Beijing. CFECC and its Director, Mr. Cao Zhide, are working closely with Bayshore to exploit this upgrading process worldwide, including in the Middle East region, where discussions are underway to expand Bayshore's upgrading business.

The securities to be issued under the private placement will be subject to a four month hold period from the date of closing in accordance with applicable securities legislation.

About Bayshore Petroleum Corp.

Bayshore is a Calgary, Alberta-based corporation focused on the exploitation of technology that increases the productivity and profitability of heavy oil and bitumen. The CCC process, and other technologies like desulphurization using the ultrasonic oxidation process, reduce upgrading and refining costs, reduce the need for diluent and other measures and costs in the transportation of oil, and expedite the end to end process of delivering fuels to the downstream user.

On behalf of the Board of Directors

BAYSHORE PETROLEUM CORP.

Peter Ho, President & CEO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Statements

Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

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 NEWS RELEASE.