Playfair Announces Increase in Financing to $2.5 Million and Closes on First Tranche

Playfair Mining (TSXV:PLY) has increased the amount to be raised from $1 million to $2.5 million of its previously announced flow-through private placement.

The press release is quoted as saying:

Playfair closed on a $700,000 first tranche of its non-brokered flow-through private placement which was announced on September 10, 2010. Finder’s fees of $25,500 cash, 380,000 common shares and 8,000 broker warrants are payable on this first tranche. All securities issued pursuant to this first tranche are subject to a hold period expiring February 15, 2011. Playfair will use the proceeds to commence drilling on its 100% owned Seal Lake project, a region of widespread strata-bound sediment-hosted copper-silver mineralization.

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Click here to Playfair Mining Ltd. Corporate Site