Bayhorse Silver Inc. announced a private placement of 15 million units at an issue price of CAD 0.04 for the gross proceeds of CAD 600,000 on December 14, 2022. Each unit will consist of one common share and one transferable common share purchase warrant, with each warrant exercisable into one common share of the company at an exercise price of CAD 0.10 for the period of 24 months from the date of issuance. The transaction is subject to approval from TSX Venture Exchange.

The company may pay the finder's fees in the transaction. All the securities issued in the transaction will be subject to a four-month-plus-a-day hold period from the date of issuance.