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Gold/Mining/Energy : PLAYFAIR MINING - PLY . V -- Ignore unavailable to you. Want to Upgrade?

To: geoffb_si who wrote (331)	9/28/2001 5:50:33 PM
From: Just G	Respond to of 505

Playfair Mining short form offering Playfair Mining Ltd PLY Shares issued 11,047,000 Sep 28 close $0.20 Fri 28 Sept 2001 Miscellaneous The company's short form offering document dated Sept. 24, 2001, has been filed with and accepted by the Canadian Venture Exchange. Effective date: Sept. 28, 2001 Offering expiry date30 calendar days ending Oct. 28, 2001 Agent: Georgia Pacific Securities Corporation Offering: Units of up to two million shares with two million non-transferable share purchase warrants attached, with every two warrants entitling the holder to purchase one common share at 30 cents per share. Unit price: 25 cents Agent's warrants: Up to 12 per cent of the number of units sold (240,000 maximum) non-transferable share purchase warrants, exercisable for up to 240,000 shares at a price of 30 cents per share for a one-year period following the offering day. Price is already set. Agent's commission: 10 per cent commission of the gross proceeds raised payable in cash or at the agent's option, in units at a deemed price of 25 cents per unit or 200,000 units, being equivalent to the units offered under the short form offering document. Upon completion of the offering, the company will issue a news release confirming the number of securities issued and monies raised pursuant to this offering. For further information, refer to the company's short form offering document dated Sept. 24, 2001. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com

To: geoffb_si who wrote (331)	9/30/2001 12:17:04 AM
From: Brumell	Respond to of 505

With Friday's NR, the way is clear. The exchange has approved PLY's documentation and brokers can now sell the new offering. Brokers already have commitments for most of it - doubt it will take long to complete the sale. Unfortunately, this financing will not be registered outside B.C. Consequently it's effectively restricted to B.C. residents or those living in countries without securities regulations. As an S.F.O.D. (short form offering document) there are some restrictions on buyers. It's all free trading but any buyer taking more than 2 percent will be subject to a 4 month hold period. There is also a $10,000 rule for S.F.O.D.s and any purchaser buying more than that amount is also subject to a 4 month hold. The max. with this offering is 40,000 shares for any purchaser above which hold periods apply. The market appears worried buyers of these new shares will dump them and keep the warrants. Some may but I doubt most will. It makes little sense. For example, suppose someone buys $10,000 worth at 25 cents and decides to dump for 22 cents. With commission (these are full service brokers) they'll net 20 cents... thereby losing 20 percent or $2,000 of their $10,000 investment immediately. It also means the true break-even share price exercising their half-warrants is at least 40 cents per share. Consequently, if I lived in B.C. I'd buy the offering but only what I planned on holding. Those who don't and sell quickly will take an immediate beating. They'll be selling cheap to guys like me living outside B.C. That's why IMO most will hold and the market will absorb new stock as drilling gets underway. It should be interesting... <ggg> Bob