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Gold/Mining/Energy : Plata Mining Limited (PMT.A) -- Ignore unavailable to you. Want to Upgrade?

To: Ulster1 who wrote (58)	4/12/1999 7:47:00 PM
From: j.oil	Read Replies (1) \| Respond to of 68

Plata Mining Limited PMT ASE Add to Portfolio April 12, 1999 Proposed Private Placement PLATA MINING LTD ("PMT-Y;PMNGF-L") - Proposed Private Placement Plata Mining Limited, ("Plata") is pleased to announce that it proposes to enter into a private placement with Capital Resources & Investments Ltd. ("CRIL"), an arm's length Bermudian investment company, for proceeds of a minimum of Cdn. $450,000 to a maximum of Cdn. $600,000. The private placement will be comprised of Units of Plata at $0.10 per Unit. Each Unit will be comprised of one common share and one warrant. Each warrant will entitle the holder to purchase one common share at a price of $0.15 per share during the first year after closing and $0.20 per share during the second year; all unexercised warrants will expire at the end of two years after the closing of the private placement. The price of the Units was determined based upon the closing price on the ASE on April 9, 1999 and the applicable discount to market. The proceeds will be used to assist Plata with its possible purchase of the Bunker Hill Mine (see Plata's press release dated March 29, 1999), including option payments, and for hiring independent consultants and professionals to undertake due diligence investigations on the mine. Plata will use some of the proceeds for general working capital. The private placement is subject to regulatory approval, including the filing of a formal application within 14 days of this press release. CRIL has determined that it wishes to invest in Plata in this manner and, accordingly, the proposed private placement with CRIL for the issuance of a convertible debenture, which was announced by a press release on January 25th, 1999, has been discontinued. TEL: (905) 888-0500 Ronald McKeownFAX: (905) 888-0497 Londonderry Capital Structuring Ltd.E-mail: london.derry@sympatico.caTEL: 54-1-815-5380 Dr. Auriemma, ArgentinaInternet: www.platamining.com