TORONTO, ON / ACCESSWIRE / April 1, 2019 / Baymount Incorporated ("Baymount" or the "Company") (NEX: BYM.H), is pleased to provide a corporate update on recent developments including the appointment of a Chief Financial Officer, notice of the Company's next annual and special meeting of the shareholders and a non-brokered private placement offering.
Appointment of Chief Financial Officer
The Company's board of directors has appointed Mr. Cameron Wickham to serve as Baymount's new Chief Financial Officer, effective March 29, 2019. Mr. Graham Simmonds, who previously served as Interim Chief Financial Officer, will continue to serve as the Company's Chairman and Chief Executive Officer.
Mr. Wickham has over seven years of experience in public company financial management and has been involved in a number of going public transactions in Canada and the United States. He specializes in navigating early stage financing structures, going public transactions, ongoing management and continuous disclosure requirements of public companies both in Canada and the United States. Mr. Wickham began his career in investment banking after obtaining his Bachelor of Commerce from Queen's University.
Annual & Special Meeting
Baymount has scheduled its next annual and special meeting of the shareholders to be held on June 7, 2019. The Company will file its management information circular on SEDAR prior to May 8, 2019 outlining such items that the shareholders will be voting on at the meeting.
Non-brokered Private Placement Offering
The Company has also launched a non-brokered private placement offering (the "Offering") of up to 10,000,000 units (the "Units") at a price of $0.05 per Unit, for gross proceeds of up to $500,000. Each Unit is comprised of one common share of the Company ("Common Share") and one half common share purchase warrant ("Warrant"). Each full Warrant will entitle the holder to purchase one additional Common Share of the Company at a price of $0.075 per share for a period twelve months from the date of issuance. The Offering is expected to close on or about April 12, 2019.
In accordance with the TSX Venture Exchange policy, the Company's shares are currently halted from trading and are expected to remain halted until after the TSX Venture Exchange has reviewed the materials in support of the termination of the proposed transaction as previously announced March 26, 2019.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, and there shall be no sale or exchange of the Company's securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under applicable securities laws.
About Baymount
Baymount seeks out and develops investment opportunities within the gaming, technology, consumer products and other regulated industries. The Company seeks to generate revenue primarily from providing consulting and advisory services and seeks to generate gains realized on dispositions of its investments.
Forward-looking Statements
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the Company's business plan and matters relating thereto, and risks associated with the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's public filings on SEDAR. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
For further information please contact:
Mr. Graham Simmonds
Chief Executive Officer
(416) 843-2881
[email protected]
SOURCE: Baymount Incorporated