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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (434)	10/31/2001 4:55:44 PM
From: Brumell	Read Replies (2) \| Respond to of 39344

Playfair completes $475,000 financing Playfair Mining Ltd PLY Shares issued 11,177,202 Oct 30 close $0.22 Wed 31 Oct 2001 News Release Mr. D. Neil Briggs reports Playfair has completed the sale of 1.9 million units ($475,000) of its public offering by way of short form offering document effective Sept. 28, 2001. Each unit consists of one common share and one non-transferable share purchase warrant; every two warrants entitling the holder to acquire one additional common share of the company at a price of 30 cents per share until Oct. 31, 2002. Of the 1.9 million units sold, 480,000 units are subject to a four-month hold period expiring Feb. 28, 2002. While sold in two tranches, all units were issued on Oct. 31, 2001, and all warrants will expire on the same date of Oct. 31, 2002. The company paid a total of $51,724.17 as commission and offering expenses with respect to the closing and issued a 228,000 agent's warrants (each agent's warrant entitling the holder to acquire one common share of the company at 30 cents per share until Oct. 31, 2002). All shares issued upon exercise of the agent's warrants are subject to a four-month hold period expiring on Feb. 28, 2002. The company intends to use a portion of the net proceeds of its offering, combined with its working capital, to conduct a drilling program on its 100-per-cent-owned San Miguel, Mexico, property. Drilling is planned to start by the middle of November, 2001. Further Information on the drill program will be released shortly. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com