On February 15th, Bayfield Ventures was recognized as a TSX Venture 50® company in 2011. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license. The TSX Venture 50® are the top 10 companies listed on the TSX Venture Exchange, in each of five major industry sectors -- mining, oil & gas, technology & life sciences, diversified industries and clean technology -- based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2010.
Vancouver, BC - Bayfield Ventures Corp.(TSX-V: BYV) (OTC Pink: BYVVF)(the "Company") announces it has arranged a non-brokered private placement to raise up to $2,500,000 by the issuance of up to 5,208,333 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 this private placement for a continuing drill program on its 100% owned Rainy River gold properties located in north-western Ontario.
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-V: BYV), visit the Company's web site at www.bayfieldventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit
Chairman and CEO
For further information contact myself or:
Bayfield Ventures Corp.
Toll Free: 800-567-8181
Envoy Strategic Partners Investor Relations
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE
You can view the Next News Releases item: Thu Apr 19, 2012, Bayfield Ventures Increases Financing to $3,000,000
You can view the Previous News Releases item: Wed Mar 28, 2012, Bayfield Reports 7.5m of 7.31 g/t Au, 107.95 g/t Ag and 7.9m of 4.8 g/t Au, 43.5 g/t Ag in Expanding Discovery Zone at Burns Block in Rainy River, NW Ontario
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