Business
Bayswater Clarifies and Restates Disclosure on Uranium Properties
Mar. 8, 2011 (Filing Services Canada) -- Bayswater Uranium Corp. (BYU - TSX Venture, BYSWF - OT...
About this update from Green Shift Commodities Ltd
[{"type":"text","content":"\nBayswater Clarifies and Restates Disclosure on Uranium Properties\n\n Mar. 8, 2011 (Filing Services Canada) -- Bayswater Uranium Corp. (BYU - TSX Venture, BYSWF - OTCBB_Pink_Sheets), reports that  as a result of a review by the British Columbia Securities Commission (BCSC), is issuing the following news release to clarify, retract, restate and update certain of its previously issued news releases and disclosures on its website www.bayswateruranium.com. In early 2011, the Company prepared an investor presentation dated January 4, 2011 and titled \"Reno Creek Project - Wyoming Acquisition to Mining Development\" which was also posted on the Company's website. The presentation and the Company's website, news release and MD&A contained the following information:* a historic, non-NI43-101 compliant, resource estimate for the Reno Creek property;* a historic, non-NI43-101 compliant, resource estimate for the Alzada property;* a historic, non-NI43-101 compliant, resource estimate for the Elkhorn property; * a historic, non-NI43-101 compliant, resource estimate for the Mountain West property;* a historic, non-NI43-101 compliant, resource estimate for the Hauber property (December 1, 2009 news release);* disclosure of further non-NI43-101 compliant potential U3O8 for the Reno Creek, Alzada, Elkhorn, Mountain West and Anna Lake properties;* tables and information containing total resource numbers which added inferred resources to other categories of mineral resources respecting the Reno Creek Property;* the quantity of contained metal or mineral resources without stating the grade or quality and quantity for each category of resources; * the results of an economic evaluation, including NPV, revenues, costs and gross metal values (in the form of enterprise value per pound) and a comparison to other entities based upon similar information, all in relation to the Reno Creek Property;While the Company dedicated significant internal resources to verify the information contained above, the disclosure to the public through the Company's website and delivery of certain information in the presentation, news releases and MD&A was not in compliance with National Instrument 43-101 (\"NI 43-101\"). The Company wishes to clarify this information as follows:* Content of the presentation and the website failed to indicate that the disclosure ...