VANCOUVER, B.C. – BAROYECA GOLD & SILVER INC. (the “Company”) is pleased to announce that it has agreed to a $2,040,000 non-brokered private placement of up to 6,800,000 units of its securities (the “Units”) at a price of $0.30 per Unit, each Unit consisting of one common share and one-half of a non-transferable share purchase warrant, with each whole such warrant (a “Warrant”) entitling the holder to acquire one additional common share of the Company at a price of $0.45 per share for a period of one year. The Company may pay fees in cash and/or securities in connection with this financing.
The proceeds from the private placement will be used for promotional expenses, operating expenses for its Colombian properties and general working capital.
The private placement is subject to acceptance for filing by the TSX Venture Exchange.
BAROYECA GOLD & SILVER INC.
Richard Wilson, CEO