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CALGARY, Alberta, April 30, 2021 (GLOBE NEWSWIRE) -- Bayshore, the TSX Venture Exchange (TSX: BHS) listed technology focused oil and gas company, reports that Shares-for-Debt Agreements have been reached with creditors Ivan Po Kwong Chan, Raymound Go and Peter Ho for the satisfaction of total debts of $1,755,495.00 through the issuance of 35,109,900 common shares at $0.05 per common share.

The settlements and the issuance of the shares require the approval of the TSX Venture Exchange. All common shares to be issued in this transaction will be subject to a four month hold period.

For further information, please contact:
Peter Ho
Chief Executive Officer and Director
peter.ho@bayshorepetroleum.com
+1 (403) 630 4355

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Statements

Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

NEITHER THE 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 NEWS RELEASE.

Bayshore Corporate Office:
Suite 340, 600 Crowfoot Crescent NW
Calgary, Alberta, Canada T3G 0B4
PHONE +1 403 265 8820
FAX +1 403 290 6565
info@bayshorepetroleum.com