Bayshore Petroleum Corp Announces Private Placement Financing

CALGARY, ALBERTA--(Marketwired - June 11, 2015) -

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Bayshore Petroleum Corp. ("Bayshore" or the "Company") (TSX VENTURE:BSH) announces that, subject to TSX Venture Exchange (the "Exchange") approval, it is conducting a non-brokered Private Placement of securities, in total consisting of the sale of 10 million units ("Units") at $0.12 per unit (the "Offering Price") and scheduled to close by June 26, 2015. Each Unit will consist 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, available for a term of 18 months from closing. Net proceeds will be approximately $1.2 million, less any commissions or finders fees paid. According to Exchange policy under private placements, there will be a hold period of four months during which the Unit securities cannot be traded.

Bayshore will use the net proceeds to increase its working capital, contract to build a Cold Catalytic Cracking ("CCC") unit in Canada, and construct associated CCC catalyst laboratory facilities. It will also fund contractual arrangements for a commercial ultrasonic desulphurization unit.

The CCC technology, in its current format, concentrates on liquid catalyst applications in converting bitumen and heavy oil directly into diesel fuel. Doing so avoids the need for high temperatures, pressures, hydrogen and other expensive processes in "cracking" the heavy hydrocarbons. Despite the current lower oil pricing environment and relatively stranded Alberta bitumen market, Alberta producers who employ such technologies will increase their revenues via a higher API product, and lower their costs via decreased use of diluent and transportation. Meanwhile, more research is being conducted to partially upgrade crude feedstock to meet pipeline, rail, and tank truck transportation requirements.

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 dilbit, 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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