VANCOUVER, BC--(Marketwired - July 04, 2016) - Bayhorse Silver Inc. (the "Company" or "Bayhorse") reports that HighCard Exploration, a company controlled by Bayhorse CEO Graeme O'Neill, and Graeme O'Neill, have converted $250,000 in debt owed to them by the Company into 2,232,143 common shares of Bayhorse at a 20% discount to the June 30, 2016 closing price, as permitted by TSX-V policy. Graeme O'Neill now owns or controls 6,017,117 common shares of Bayhorse, or 19% of the Company's issued and outstanding shares.
Due to the market uncertainty from the recent BREXIT Referendum results, the Company is extending the closing of its previously announced US$ Convertible, Silver Convertible, Net Revenue Participation Debenture placement for a further 30 days. The new closing date is August 4, 2016.
The Company has granted 225,000 incentive stock options to Officers, Directors and Consultants to the Company exercisable for five years at a price of $0.12 cents per common share.
Bayhorse Silver Inc. is a junior exploration company that is earning an 80% interest in the historic Bayhorse Silver Mine in Oregon, USA, that has the potential for a substantial silver discovery, and is earning a 75% interest in the past producing Bridging the Gap Project, consisting of ASARCO's historic Crown Point, Silver King, Ranger, Wyoming, Curlew, and Blackhawk silver/lead/zinc mines in Idaho's Silver Valley. The Company has an experienced management and technical team with extensive exploration expertise. This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents.
On Behalf of the Board
Graeme O'Neill, President
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 release.