Bayshore Petroleum Closes Private Placement Financing

CALGARY, ALBERTA--(Marketwired - Sept. 4, 2015) -

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Bayshore Petroleum Corp. ("Bayshore" or the "Company") (TSX VENTURE:BSH) announces it has closed the non-brokered private placement financing announced on June 11, 2015, and extended until August 31, 2015. The private placement in total included the sale of 2,160,000 units ("Units") at $0.12 per Unit to subscribers, including to an officer of the Company and a Pro acting for one of the finders. It closed on June 30, 2015, for gross proceeds of $259,200. Each Unit consisted of one common share in the capital of Bayshore and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share of the Company at an exercise price of $0.30 per share for a term of 18 months from closing. Finder's fees of $20,736 and 74,700 brokers' warrants were paid to Canaccord Genuity Corp. of Calgary and to a finder resident in Hong Kong. The brokers' warrants carry the same terms as the subscriber warrants. There is a hold period of four months from June 30, 2015, during which the Units cannot be traded.

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. Cold Catalytic Cracking ("CCC") enables the upgrading of heavy crude oil and bitumen directly into diesel. This technology, and other technologies such as desulphurization using ultrasonic oxidation, increase the sales price quality adjustment, reduce the need for diluent and other costs in the transportation of heavy oil or bitumen, 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 and 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.

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