NEW YORK, Nov. 10, 2004 (PRIMEZONE) -- Mayfair Mining & Minerals, Inc. (OTCBB:MFMM) is pleased to announce that the Company has closed a non-brokered private placement in the amount of US $525,000 by the issuance of 3,500,000 shares at a price of US $0.15 cents. The shares were placed with institutional and high net worth investors and are subject to Rule 144 restrictions as to resale.
The proceeds of the offering are to be used for general working capital requirements.
On behalf of the Board of Directors,
Eur. Ing. Dr. Michael Harold Smith, FIMM, C.Eng. Director.
Forward-Looking Statements
Some of the information in this communication may contain projections or other forward-looking statements regarding future events or the future financial performance of Mayfair Mining and Minerals, Inc. The reader is cautioned that the assumptions and projections used in the preparation of these forward-looking statements are subjective and involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied in such forward-looking statements, or could substantially and negatively impact the extent to which a particular projection is realized, if at all. To the extent applicable and available by law, as regards forward-looking statements, Mayfair Mining and Minerals, Inc., relies upon, incorporates by reference herein and claims the safe-harbor provisions of any and all federal, state and provincial laws, rules and regulations, specifically including those related to securities and investments.