Bayfield Ventures Corp. Increases Financing to $3,000,000
19.04.2012 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - April 19, 2012) - Bayfield Ventures Corp. (TSX VENTURE: BYV) (OTCBB: BYVVF) (FRANKFURT:B4N) (the "Company") announces it has increased a non-brokered private placement announced April 17th from $2,500,000 to up to $3,000,000 by the issuance of up to 6,250,000 flow-through units (the "FT Units") at a price of $0.48 per FT Unit. Each FT Unit will consist of one flow-through common share and one non-transferable non flow-through warrant (the "NFT Warrant"). Each NFT Warrant will entitle the holder to purchase one non flow-through common share at a price of $0.55 for a period of eighteen months from the closing date of the private placement.A finder's fee of up to 7% cash and 7% non-transferable non flow-through warrants (the "Finder's Warrants") will be paid in connection with the private placement offering. Each Finder's Warrant will entitle the Finder to purchase a non-flow-through common share at a price of $0.55 per share for a period of eighteen months from the closing date of the private placement.
Bayfield Ventures intends to utilize the proceeds from these private placements for a continuing drill program on its 100% owned Rainy River gold properties located in north-western Ontario.
Rainy River district property claims map:
http://www.bayfieldventures.com/i/pdf/BYVRRArea.pdf
About Bayfield Ventures Corp.:
Bayfield Ventures Corp. is exploring for gold and silver in the Rainy River District of north-western Ontario. The Company has completed approx. 270 holes in its ongoing 100,000 metre drill program with drilling concentrated on the flagship Burns Block Project. The Company has 64.2 million shares outstanding.
For further information on Bayfield Ventures Corp. (TSX VENTURE:BYV), visit the Company's web site at www.bayfieldventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit
Chairman and CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Contact Information
Bayfield Ventures Corp.
James G. Pettit
Chairman and CEO
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
Bayfield Ventures Corp.
Don Myers
Director
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
info@bayfieldventures.com
Envoy Strategic Partners Investor Relations
Jay Bedard
416-977-7778
jay@envoystrategicpartners.com