Well Spinner some times I hate being right,and this is one of them.What are they doing a 90 day hold period and 20 million shares.
j.oil
Plata Mining Limited
PMT ASE
March 30, 1999
$6,000,000 Private Placement
PLATA MINING LTD ("PMT-Y;PMNGF-L")
- $6,000,000 Private Placement
Plata Mining Limited ("Plata") announces that it intends to effect an arm's length private placement of up to 20,000,000 special warrants at a price of $0.30 per special warrant (or such other price as Plata and Union Securities Ltd. agree), with Union Securities Ltd. ("Union") to act as agent. The issuance price was determined by negotiation between Plata and Union. Upon completion of the private placement, Plata will use its best efforts to file a prospectus in the selling jurisdictions (most likely British Columbia, Alberta and Ontario) to qualify the underlying common shares for trading within three months following closing of the private placement. The private placement is subject to regulatory approval including the filing of an application with the Alberta Stock Exchange within 14 calendar days of this press release.
Plata recently announced its exclusive option to acquire a 100 percent interest in the Bunker Hill Mine located near Kellogg, Idaho, U.S.A. reportedly one of the largest underground lead, silver and zinc mines in North America. The proceeds from the private placement will be used by Plata for payments towards the purchase of the Bunker Hill Mine and for planned work programs to increase production at the Bunker Hill Mine to a 400 ton per day operation within the near future.
TEL: (905) 888-0500 Londonderry Capital Structuring Ltd.FAX: (905) 888-0497 Ronald McKeownEMAIL: london.derry@sympatico.caTEL: 54-1-815-6380 Plata Mining Limited Dr. Auriemma, ArgentinaEMAIL: www.platamining.com |
