Bayshore Petroleum Corp.
TSX VENTURE : BSH

February 19, 2015 13:28 ET

Bayshore Petroleum Corp Confirms Shares for Debt

CALGARY, ALBERTA--(Marketwired - Feb. 19, 2015) -

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) announces it has received TSX Venture Exchange acceptance and closed the previously announced shares for debt transaction, first announced in a news release dated January 13, 2015. This shall conserve limited cash balances and lower financial risk.

Bayshore reached agreement with two debt-holders totalling $330,000. They have been paid three million shares in exchange for cancelling the debt, at an average share price of $0.11/share. One of these debts is in the amount of $320,000, owed to International Ultrasonic Technologies Inc. ("IUT"), a company based out of Calgary, Alberta, and controlled by Jim Van Wert, as part of a previous agreement to acquire a master license technology that removes sulphur from liquids via oxidation and ultrasonic technology. IUT was paid 2,909,090 Bayshore common shares, which constitutes 12% of the issued and outstanding shares of the company. IUT shall now report as an insider, as defined by the TSX Venture Exchange policies.

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 Company's cold catalytic cracking 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 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.

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.

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