By Devika Patel
Knoxville, Tenn., Dec. 1 - Trelawney Mining and Exploration Inc. said it arranged a C$7 million best-efforts private placement of stock and units.
Jennings Capital Inc. is the lead agent in a syndicate that will include Raymond James Ltd. and Blackmont Capital Inc. There is a C$1.05 million greenshoe.
The company will sell 8,333,333 flow-through common shares at C$0.60 apiece.
The company also will sell 4 million units at C$0.50 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.70 for two years.
Proceeds will be used for exploration and development of the Chester Property and general working capital purposes.
The gold exploration company is based in Toronto.
| Issuer: | Trelawney Mining and Exploration Inc.
|
| Issue: | Flow-through common shares, units of one common share and one half-share warrant
|
| Amount: | C$7 million
|
| Greenshoe: | C$1.05 million
|
| Agent: | Jennings Capital Inc. (lead), Raymond James Ltd. and Blackmont Capital Inc.
|
| Pricing date: | Dec. 1
|
| Stock symbol: | TSX Venture: TRR
|
| Stock price: | C$0.60 at close Nov. 30
|
| Market capitalization: | C$12.8 million
|
|
|
| Flow-through shares
|
| Amount: | C$5 million
|
| Shares: | 8,333,333
|
| Price: | C$0.60
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$2 million
|
| Units: | 4 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
