Bayswater Announces Flow-Through Financing
Vancouver, BC, November 5, 2008 ─ Bayswater Uranium Corporation (TSX-V: BAY) (OTC: BYSWF) reports it intends to raise up to $2,000,000 for exploration in Canada in 2009. The financing will consist of a non-brokered private placement of Flow-Through Units (“the Offering”). The Offering will comprise up to 20,000,000 Units at $0.10 per Unit. Each Unit will consist of one common Flow-Through share and one-half share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one common share at a price of $0.20 for 18 months following the closing.
Registered dealers who assist in the private placement may receive finder’s fees of 8.5% of the gross proceeds of the Offering payable in common shares of the Company, and Broker Warrants equal in number to 7% of the aggregate Units sold in the Offering, exercisable for one common share at $0.10 per share for a period of two years from closing.
The private placement is subject to regulatory approval.
About Bayswater Uranium Corporation – The Super Junior™ Uranium Company
Bayswater Uranium Corporation is a rapidly-growing international uranium exploration and development company. As the only uranium company to have major landholdings in each of Canada's most important producing and exploration regions – the Athabasca Basin, the Central Mineral Belt, and the Thelon Basin – Bayswater is a leader in uranium exploration in Canada, the world's largest producer of uranium. The Company also owns several advanced uranium properties in the United States. Bayswater combines a balanced portfolio of exploration and development projects with the uranium expertise of its technical and managerial teams. The result is a Super Junior™ Uranium Company with the share liquidity and market capitalization to provide value to both the retail and institutional investor. To capitalize on the strong growth of the nuclear industry and to continue to add shareholder value, Bayswater plans to focus on the development of its resource properties and to evaluate early stage projects for further discoveries. Other acquisition opportunities will continue to be assessed all with a corporate vision of building a major international uranium company. Bayswater is listed on the TSX Venture Exchange under the symbol "BAY".On behalf of the Board of:
BAYSWATER URANIUM CORPORATION
| George M. Leary |
| President and CEO |
For further information contact:
| John Gomez Manager, Investor Relations |
| Telephone: (604) 687-2153 |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
