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Baroyeca Gold & Silver Inc. Announces Private Placement Over-Subscribed

V.BGS

Vancouver, British Columbia--(Newsfile Corp. - February 11, 2022) - BAROYECA GOLD & SILVER INC. (TSXV: BGS) (the "Company") further to its news release issued January 20, 2022, the Company is pleased to announce that its private placement of its securities at $0.35 per unit, each unit consisting of one common share and one-half of a non-transferable share purchase warrant, with each whole such warrant entitling the holder to acquire one additional common share of the Company at a price of $0.50 per share for a period of one year, has been over-subscribed, the Company having received subscriptions for in the order of 8,973,994 units of its securities raising total proceeds in the order of $3,140,898 for the Company.

The Company will pay fees in cash and/or securities to certain persons in connection with this financing.

The proceeds from the private placement will be used for corporate administration, property payments and operating expenses for its Colombian properties and general working capital.

Closing of the private placement is subject to acceptance for filing by the TSX Venture Exchange.

BAROYECA GOLD & SILVER INC.

Per: "Richard Wilson"
Richard Wilson, CEO

FOR INFORMATION CONTACT:

Rick Wilson - (604) 351-3599

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113528