Trelawney Mining orchestrates C$50 million private placement of stock

Gold explorer will use proceeds to explore, develop Chester Property

By Devika Patel

Knoxville, Tenn., Nov. 17 - Trelawney Mining and Exploration Inc. said it plans a private placement of shares. The deal will be conducted on a bought-deal basis by a syndicate of underwriters led by RBC Capital Markets and Jennings Capital Inc.

The company will raise C$50 million by selling up to C$15 million of flow-through common shares and the remainder in common shares. Settlement is expected Dec. 7.

Proceeds will be used for exploration and development of the Chester Property and for general working capital purposes.

The gold exploration company is based in Toronto.

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