Bayshore Petroleum Corp.
TSX VENTURE : BSH

January 28, 2015 17:48 ET

Bayshore Petroleum Corp. Confirms Warrants Extension

CALGARY, ALBERTA--(Marketwired - Jan. 28, 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 that it has received TSX Venture Exchange approval to extend common share purchase warrants as originally announced in a press release dated January 13, 2015. These warrants were originally issued pursuant to a larger private placement totalling 8,571,429 units (containing warrants), accepted for filing by the TSX Venture Exchange on February 2, 2012. In a press release dated September 23, 2014, the Company closed a two year extension of 6,242,813 warrants, representing the original first tranche of the above private placement, with no change in purchase price. Now the remaining 2,328,616 outstanding common share purchase warrants from the private placement are hereby extended. Each warrant entitles the holder to purchase 1 common share at the price of $0.20 per share, and shall now expire on January 27, 2017. This represents an extension of two years from the original expiry of January 27, 2015. Insiders hold 74.7% of the warrants, and there is no repricing of the warrants from the original price of $0.20.

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 cold catalytic cracking process, and other technologies like ultrasonic oxidation desulphurization, potentially 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.

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