On January 18, 2024, Bayhorse Silver Inc. closed the transaction. The company issued 8,310,000 units for gross proceeds of CAD 415,500 in its second and final tranche. The company issued a total of 21,477,500 units for total gross proceeds of CAD 1,073,875 in the transaction. The transaction was oversubscribed. The company will pay a total of cash finder's fees of CAD 33,915 and issue 678,300 finder's warrants in the transaction. Any shares issued pursuant to the finder's warrants are subject to a hold period expiring May 19, 2024 for the final tranche. All securities issued under this private placement are subject to a hold period expiring on May 19, 2024 for the final tranche. The transaction included participation from Graeme O'Neill for 5,100,000 units for CAD 255,000 and Rick Low for 1,200,000 units for CAD 60,000.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 22 placees and 2 existing insiders for 6,300,000 units.