Bayfield Ventures Corp.
TSX VENTURE : BYV
FRANKFURT : B4N

Bayfield Ventures Corp.

February 19, 2010 12:49 ET

Bayfield Ventures Closes Non Flow-Through Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2010) - Bayfield Ventures Corp. (TSX VENTURE:BYV) (FRANKFURT:B4N) (the "Company") announces that it has issued a total of 1,000,000 units pursuant to a private placement announced January 28, 2010.

A total of 1,000,000 non-flow-through units were issued at a purchase price of $0.25 per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable at a price of $0.30 per share if exercised on or before February 18, 2012.

The common shares and warrants issued under the private placement, and any common shares issued pursuant to the exercise of the warrants are subject to a four month hold period under applicable securities laws and imposed by the TSX Venture Exchange expiring June 19, 2010.

The Company paid the sum of $875.00 and issued 28,000 units as a finder's fee in connection with the private placement. The 28,000 finder's units have the same terms and conditions as the units issued under the private placement described in the foregoing.

Bayfield intends to utilize the proceeds for general working capital purposes.

Bayfield Ventures Corp. is exploring for gold in the Rainy River and Red Lake districts of Northwestern Ontario.

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

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Contact Information

  • Bayfield Ventures Corp.
    James G. Pettit
    Chairman
    (604) 687-3376 or Toll Free: 800-567-8181
    (604) 687-3119 (FAX)
    or
    Bayfield Ventures Corp.
    Donald G. Myers
    Director
    (604) 687-3376 or Toll Free: 800-567-8181
    (604) 687-3119 (FAX)
    info@bayfieldventures.com
    www.bayfieldventures.com