New Issue: Trelawney wraps C$10.41 million placement of flow-through stock, units

By Devika Patel

Knoxville, Tenn., Dec. 22 - Trelawney Mining and Exploration Inc. said it completed a C$10.41 million best-efforts private placement of stock and units. The deal priced for C$7 million with a C$1.05 million greenshoe on Dec. 1 and was lifted to C$10 million on Dec. 7.

The company sold 4,605,000 flow-through common shares at C$0.60 apiece. It also sold 15,296,600 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.

Jennings Capital Inc. was the lead agent in a syndicate that included Raymond James Ltd. and Blackmont Capital Inc.

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$10,411,300 (including C$411,300 greenshoe)
Agent:	Jennings Capital Inc. (lead), Raymond James Ltd. and Blackmont Capital Inc.
Pricing date:	Dec. 1
Upsized:	Dec. 7
Settlement date:	Dec. 22
Stock symbol:	TSX Venture: TRR
Stock price:	C$0.60 at close Nov. 30
Market capitalization:	C$20.6 million
Flow-through shares
Amount:	C$2,763,000
Shares:	4,605,000
Price:	C$0.60
Warrants:	No
Units
Amount:	C$7,648,300
Units:	15,296,600
Price:	C$0.50
Warrants:	One half-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.70

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