Fri Feb 19, 2010 Bayfield Ventures Closes Non Flow-Through Private Placement
Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (FWB: B4N) (the "Company") announces that it has issued a total of 1,000,000 units pursuant to a private placement announced January 28, 2010.
A total of 1,000,000 non-flow-through units were issued at a purchase price of $0.25 per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable at a price of $0.30 per share if exercised on or before February 18, 2012.
The common shares and warrants issued under the private placement, and any common shares issued pursuant to the exercise of the warrants are subject to a four month hold period under applicable securities laws and imposed by the TSX Venture Exchange expiring June 19, 2010.
The Company paid the sum of $875.00 and issued 28,000 units as a finder's fee in connection with the private placement. The 28,000 finder's units have the same terms and conditions as the units issued under the private placement described in the foregoing.
Bayfield intends to utilize the proceeds for general working capital purposes.
Bayfield Ventures Corp. is exploring for gold in the Rainy River and Red Lake districts of Northwestern Ontario.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
James G. Pettit
Chairman
For further information contact myself or:
Donald G. Myers
Director
Bayfield Ventures Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@bayfieldventures.com
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