The purpose of the Arrangement is to restructure the Company by creating a company, Silcom, which the Company believes will be beneficial to the shareholders of the Company, as it is expected that Silcom will enter into a definitive agreement to acquire a business upon completion of the Arrangement. Management also believes that by creating this new company and providing the Company's shareholders with an interest in this company, shareholder value will be enhanced.
Pursuant to the Arrangement, a total of 4,797,128 common shares in the capital of Silcom have been issued, on a pro-rata basis, to the Company's shareholders.
ABOUT BAYHORSE SILVER INC.
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bayhorse Silver Inc. Graeme O'NeillPresident and Chief Executive Officer (604) 684-3394 Source: Bayhorse Silver Inc.