On October 5, 2023, Bayhorse Silver Inc. closed the transaction. The company has now issued 6,000,000 units at an issue price of CAD 0.015 for gross proceeds of CAD 90,000. Each unit consists of one common share, and one transferrable common share purchase warrant, each warrant exercisable into one common share of the company at a price of CAD 0.05 per common share for a period of 15 months from issuance.

All securities issued under this placement are subject to a hold period expiring on Feb. 6, 2024. The transaction is subject to the approval of the TSX Venture Exchange.