Playfair Mining Ltd. has closed its private placement previously announced on March 6, 2014. The Company has issued 5,000,000 shares at a price of $0.075 per share for gross proceeds of $375,000.
The Company paid aggregate finder’s fees of $1,800 cash, 120,000 common shares and 144,000 broker warrants, each broker warrant entitling the holder to purchase one common share of the Company at a price of $0.075 for a period of one year.
All securities issued pursuant to this private placement are subject to a four month hold period following the closing date.
The net proceeds will be used for Phase 1 exploration on the Company’s Ox Mountain project in Sligo Ireland and general working capital purposes.
ON BEHALF OF THE BOARD
“D. Neil Briggs”
D. Neil Briggs
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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 and forward-looking statements may vary materially from those described herein.