Vancouver, BC, April 4, 2014 - Bayhorse Silver (TSXV:BHS) has formalized two consulting agreements with specialists who are active in the medical marijuana industry to explore potential business opportunities. In the United States, Medical Marijuana is currently legal in 20 states. Furthermore, Colorado and Washington State have legalized recreational use with additional states contemplating legalization.
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Under a new program that began April 1st in Canada, doctors will soon become the sole gatekeepers of prescription cannabis, allowing patients to purchase medical marijuana with a single note from their practitioner.
Bayhorse Silver's first agreement is with Mr. Eben von Ranson of Spokane, Washington, a master grower and 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 is preparing to operate a 16,000 sq. ft. facility in Spokane, Washington, and has made a "Growers Application" to the State of Washington to construct a marijuana growing operation in this facility.
The second agreement is with Canna-Hydro LLC. Based in Las Vegas, Nevada, Canna-Hydro provides business consulting services in the states of Colorado and Washington to legal and licensed medical marijuana operators, licensed growers of recreational marijuana, and licensed retail recreational dispensaries. Canna-Hydro's proprietary technology referred to as the Vertically Integrated Continuous Cultivations System, provides a highly efficient, environmentally superior, urban-based facility to grow high quality cannabis.
The two consultants will define and quantify potential opportunities and investments in the marijuana industry, and determine the financial needs and viability of the businesses.
The ArcView Investors Network have issued an analysis of the American marijuana marketplace and forecast a 64% surge in the legal U.S. cannabis market to $2.34 billion. They also estimate that the 5-year national market could grow to $10.2 billion amid rising demand and potentially new state markets.
Bayhorse Silver is an active mineral exploration and development company, with gold projects in New Zealand and the recently acquired Bayhorse Silver Mine project in east-central Oregon. The company also holds a 30% net profit interest in the Flagstaff Barite Mine which management expects to produce revenue in late 2014.
The company has previously provided its shareholders with shares in two new companies that have been spun off through Plans of Arrangement. Bayhorse Silver currently trades at $0.15, and with 19.3 million shares outstanding, the company is capitalized at $2.9 million.
For more information about Bayhorse Silver, please visit the company's website www.bayhorsesilver.com, call 604-684-3394 or email company@bayhorsesilver.com.
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