NEWS: BHS Announces another Spin Out for Investors
Bayhorse hires weed consultants von Ranson, Canna-Hydro
2014-04-03 09:26 ET - News Release
Mr. Graeme O'Neill reports
BAYHORSE SILVER ANNOUNCES THE ENGAGEMENT OF CONSULTANTS TO EXPLORE POTENTIAL BUSINESS OPPORTUNTIES IN THE MEDICAL MARIJUANA FIELD
Bayhorse Silver Inc., consistent with its continuing programs to create additional shareholder value, has formalized two consulting agreements with specialists that 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 United States 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.
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.
We seek Safe Harbor.
© 2014 Canjex Publishing Ltd. All rights reserved.