Lehi, Utah and Santa Monica, California, August 8, 2011—BayHill Capital Corporation (OTC Bulletin Board: BYHL) and Proteus Energy Corporation, a privately held company, announced today that they entered into a merger agreement pursuant to which BayHill will acquire Proteus in a reverse merger transaction.
The consummation of the merger is subject to certain and customary conditions, including the adoption of the merger agreement by Proteus stockholders and the raise of at least $2 million of a planned $5 million private placement by BayHill, and if consummated will result in a change in control of BayHill. The parties may terminate the merger agreement if the merger is not completed by October 31, 2011. In connection with the change of control there will be a new board of directors and management of BayHill.
[btn link=”http://pacificwavepartners.com/downloads/Proteus BayHill Merger 08-08-2011.pdf” color=”dimGrey”]DOWNLOAD FULL PRESS RELEASE[/btn]