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Baymount Incorporated: Baymount Announces Continuation of Unit Offering

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^{Published in Business and Finance on Wednesday, January 28th 2009 at 11:17 GMT, Last Modified on 2009-01-28 11:18:43 by Market Wire}  

TORONTO, ONTARIO--(Marketwire - Jan. 28, 2009) - Baymount Incorporated ("Baymount" or the "Company") (TSX VENTURE:BYM) announces that its offering of up to $1.5 million of units at price of $0.035 per unit (as previously announced on December 23, 2008) is ongoing. To date, an aggregate of approximately $634,000 in gross proceeds have been raised and the Company continues to make contact with additional potential subscribers. Each unit will consist of one common share of Baymount and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at a price of $0.07 for a period of 12 months from closing. Closing is expected to continue to occur in multiple tranches, as subscription proceeds and supporting documentation are received. The proceeds from this subscription will be used to build and develop the Quinte Raceway and Slots, a new racetrack and slot facility to be located in Belleville, Ontario and for working capital purposes.

About Baymount

Baymount seeks out and develops opportunities within the horseracing industry. It is the Baymount philosophy to create entertainment destinations for consumers while providing our investors with a vehicle that allows them to participate in the growth of Canadian gaming at racetracks.

Baymount's wholly-owned subsidiary, Belleville Racetrack Development Corporation ("BRDC"), has an agreement with the Belleville Agricultural Society to build a facility to relocate the Quinte Exhibition and Raceway in Belleville, Ontario. QER is one of the 18 racetrack licenses in Ontario eligible to participate in Ontario's Slots-at-Racetracks program. In 2006, the Alcohol and Gaming Commission of Ontario found BRDC suitable to act as Landlord for the proposed OLG gaming premises to be located at the new QER. The Company has also received Preliminary Approval for a License to Operate a Racetrack from the Ontario Racing Commission.

ON BEHALF OF BAYMOUNT INCORPORATED

Graham Simmonds, President & Chief Executive Officer

For additional information please visit the company's website at [ www.bym.ca ].

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. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.