Playfair Announces Increase in Financing to $2.5 Million and Closes on First Tranche
October 21 2010 - 4:16PM
Marketwired
Due to strong interest in this financing, Playfair Mining (TSX
VENTURE: PLY), in connection with its previously announced
flow-through private placement, has increased the amount to be
raised from $1 million to $2.5 million.
Playfair closed on a $700,000 first tranche of its non-brokered
flow-through private placement which was announced on September 10,
2010. Finder's fees of $25,500 cash, 380,000 common shares and
8,000 broker warrants are payable on this first tranche. All
securities issued pursuant to this first tranche are subject to a
hold period expiring February 15, 2011.
Playfair will use the proceeds to commence drilling on its 100%
owned Seal Lake project, a region of widespread strata-bound
sediment-hosted copper-silver mineralization.
Visit our website at www.playfairmining.com for more
information.
ON BEHALF OF THE BOARD
D. Neil Briggs, Director
Forward-Looking Statements: This Playfair Mining Ltd. News
Release may contain certain "forward-looking" statements and
information relating to Playfair which are based on the beliefs of
Playfair management, as well as assumptions made by and information
currently available to Playfair management. Such statements reflect
the current risks, uncertainties and assumptions related to certain
factors including, without limitations, exploration and development
risks, expenditure and financing requirements, title matters,
operating hazards, metal prices, political and economic factors,
competitive factors, general economic conditions, relationships
with vendors and strategic partners, governmental regulation and
supervision, seasonality, technological change, industry practices,
and one-time events. Should any one or more of these risks or
uncertainties materialize or change, or should any underlying
assumptions prove incorrect, actual results may vary materially
from those described herein.
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.
Contacts: Playfair Mining Ltd. D. Neil Briggs Director (604)
687-7178 or Toll Free: 1-888-244-6644 (604) 687-7179 (FAX)
www.playfairmining.com
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