-- Bayhorse Silver (BHS.V) on Wednesday said it closed a "best efforts" private placement for of share units, raising $4.1 million including the partial exercise of the agent's over-allotment option.
The company sold 58.8-million units priced at $0.07 apiece and made up of a share and a three-year warrant to buy a share for $0.10.
Proceeds will be used for the exploration and advancement of its Bayhorse Silver Mine and adjacent Pegasus Porphyry Copper project in Idaho. It will also be used for general working capital and corporate needs.
Shares of the company were last seen unchanged at $0.06 on the TSX Venture Exchange.