Exploring for Gold in the Rainy River and Red Lake districts of Northwestern Ontario
81m @ 5.08 g/t Gold, 28m @ 13.28 g/t Gold, 9m @ 12.88 g/t Gold, 46.6m @ 2.28 g/t Gold plus Bonanza grade Silver (up to 1760 g/t)
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Bayfield Ventures Corp.
Suite 2230 - 885 West Georgia Street
Vancouver, British Columbia
V6C 3E8
| TSX Trading Symbol: BYV Email: [email protected] |
Telephone: (604) 687-3376 Facsimile: (604) 687-3119 |
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Mon Sep 13, 2010 Bayfield Ventures Arranges $5,000,000 Financing |
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Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company") is pleased to announce it has arranged a non-brokered private placement to raise up to $5,000,000 by the issuance of 3,571,428 flow-through common shares (the "FT Shares") at a price of $1.40 per FT Share. A finder's fee equal to 5% cash commission and non-transferable warrants equal to 5% of the total shares issued by the Company with respect to this financing (the "Finder's Warrants") will be paid in connection with this private placement offering. Each Finder's Warrant will entitle the Finder to purchase a common share at a price of $1.29 for a period of two years from the closing date of the private placement. No "control persons" (as defined in Policy 4.1 of the TSX Venture Exchange) or no new insiders will be created as a result of the private placement. All shares issued by the Company will be subject to a hold period of four months from the closing date. The private placement is subject to acceptance of a filing to be made in respect of same by the TSX Venture Exchange. Bayfield Ventures intends to utilize the proceeds from the private placement for an expanded drill program on its 100% owned Rainy River gold properties located in north-western Ontario. Rainy River gold properties claims map: http://www.bayfieldventures.com/i/pdf/BYV-RR-Area-11x17.pdf About Bayfield Ventures Corp. Bayfield Ventures Corp. is exploring for gold in the Rainy River district of north-western Ontario. For further information on Bayfield Ventures Corp. (TSX-V: BYV), visit the Company's web site at www.bayfieldventures.com. ON BEHALF OF THE BOARD OF DIRECTORS "Jim Pettit" _______________________________ James G. Pettit Chairman and CEO For further information contact myself or: Don Myers Director Bayfield Ventures Corp. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: [email protected] |
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You can view the Previous News Releases item: Wed Sep 8, 2010, Bayfield Correction Increases Drill Hole from 2.70 g/t gold to 5.08 g/t gold over 81m in Rainy River, NW Ontario You can return to the main News Releases page, or press the Back button on your browser. |
<!-- <table width="100%"> <tr valign=top> <td align=left> <p align=center>THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. <p>This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.</td> </tr> </table> -->
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