Bayhorse Silver Announces the Engagement of Consultants to Explore Potential Bus. Opportunities in the Medical Marijuana Field
03 Abril 2014 - 11:42AM
Marketwired
Bayhorse Silver Announces the Engagement of Consultants to Explore
Potential Business Opportunities in the Medical Marijuana Field
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 3, 2014) -
Bayhorse Silver Inc. ("Bayhorse" or the "Company")
(TSX-VENTURE:BHS), reports that, consistent with its continuing
programs to create additional shareholder value, it has formalized
two consulting agreements with specialists who are active in the
medical marijuana industry to advise the Company with respect to
the multiple business and investment opportunities that are
emerging in this newly legalized and regulated industry in the U.S.
and Canada.
The first agreement is with Mr. Eben von Ranson of Spokane, WA.
Mr. von Ranson is a master grower, an experienced consultant and
the sole owner of Blueroots Cannabis LLC. Mr. von Ranson has been a
grower of medical marijuana since 2004 and has designed, engineered
and constructed four medical marijuana growing operations in the
state of Montana and two in the state of Washington. Blueroots
Cannabis LLC is preparing to operate a 16,000 sq. ft. facility in
Spokane, WA and has made a "Growers Application" to the State of
Washington to construct a marijuana growing operation in this
facility. Our consulting agreement with Mr. von Ranson speaks to
his understanding of all facets of this new, diverse and emerging
industry.
The second agreement is with Canna-Hydro LLC, based in Las
Vegas, NV. Canna-Hydro LLC provides business consulting services in
the states of Colorado and Washington related to: 1) legal and
licensed medical marijuana operators; 2) licensed growers of
recreational marijuana which have passed the legalization process;
3) licensed retail recreational dispensaries in states that have
passed the legalization process: 4) creating a highly efficient,
environmentally superior, urban-based facility to grow high quality
cannabis using proprietary technology referred to as the Vertically
Integrated Continuous Cultivations System ("VICCS"); Canna-Hydro is
a business services and component manufacturing firm.
The consultants will work closely with the Company to define and
quantify potential opportunities and investments in the marijuana
industry, and to determine the financial needs and viability of the
businesses. The consultants will also review the opportunities for
business relationships with other companies that are seeking, or
have made, "Growers Applications" in the State of Washington.
The terms of the consultancy agreements are for US$5,000 per
month per consultant for six months, and the granting of 100,000
incentive stock options each.
The Company cautions that it has not yet entered into any
agreements in respect of business opportunities in the legalized
medical and recreational marijuana industry in the United States,
or in Canada, where the national legalization of medical marijuana
by the Canadian government has created a substantial business
opportunity for cannabis production and sale, nor is there any
assurance that the Company will acquire interests or enter into
agreements in respect of this new industry.
In the event the Company does identify and consider business
opportunities or relationships in the medical marijuana field, any
potential business transaction(s) that comes from the opportunities
will be subject to the policies of, and approval of, the TSX
Venture Exchange (TSX-V).
Bayhorse Silver has already provided its shareholders with
shares in two new companies that have been spun off to its
shareholders recently through Plans of Arrangement. Archean Star
Resources, which was spun off through Plans of Arrangement to
Bayhorse shareholders in January of 2011, and Silcom Systems Inc,
which was spun off to Bayhorse shareholders in January 2014.
Bayhorse received approximately 10 million shares of Archean Star
in that transaction, that it recently sold for approximately
$750,000.
Bayhorse Silver Inc is a tier 2 mining company listed on the TSX
Venture Exchange, and its principal business is mineral exploration
and development through its principal properties, being the
Alexander River gold project in New Zealand and its recently
acquired Bayhorse Silver Mine project in east-central Oregon. The
Company also has a 100% interest in two other New Zealand gold
projects, Red Queen and Paparoa, where it is actively pursuing
exploration. The Company also holds a 30% net profit interest in
the Flagstaff Barite Mine, and anticipates this NPI will produce
revenue as early as late 2014.
The Company announces the issuance of 400,000 incentive stock
options to consultants of the Company exercisable at a price of
$0.20 cents for five years.
ON BEHALF OF THE BOARD
Graeme O'Neill, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Caution Regarding Forward-Looking Statements - This news
release contains certain forward-looking statements, including
statements regarding the business and anticipated financial
performance of the Company. These statements are subject to a
number of risks and uncertainties. Actual results may differ
materially from results contemplated by the forward-looking
statements. When relying on forward-looking statements to make
decisions, investors and others should carefully consider the
foregoing factors and other uncertainties and should not place
undue reliance on such forward-looking statements. The Company does
not undertake to update any forward looking statements, oral or
written, made by itself or on its behalf except as required by
law.
Bayhorse Silver Inc.Graeme O'NeillPresident(604)
684-3394www.bayhorsesilver.com
Bayhorse Silver (TSXV:BHS)
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