By Devika Patel
Knoxville, Tenn., July 29 - Trelawney Mining and Exploration Inc. announced it plans a C$2 million non-brokered private placement of units.
The company will sell up to 2.95 million units at C$0.17 per unit and up to 7.5 million flow-through units at C$0.20 apiece.
Each unit consists of one common share and one half-share warrant. Each flow-through unit consists of one flow-through common share and one half-share warrant.
Each whole warrant will be exercisable at C$0.30 for one year.
Proceeds will be used for exploration and general working capital.
The gold exploration company is based in Toronto.
| Issuer: | Trelawney Mining and Exploration Inc.
|
| Issue: | Units of one common share and half-share warrant, flow-through units of one flow-through common share and a half-share warrant
|
| Amount: | C$2,001,500
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | July 29
|
| Stock symbol: | TSX Venture: TRR
|
| Stock price: | C$0.20 at close July 29
|
| Market capitalization: | C$17.5 million
|
|
|
| Units
|
| Amount: | C$501,500
|
| Units: | 2.95 million
|
| Price: | C$0.17
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 7.5 million
|
| Price: | C$0.20
|
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