By Devika Patel
Knoxville, Tenn., March 18 - Trelawney Mining and Exploration Inc. said its planned C$8 million bought-deal private placement of stock will be oversubscribed and it will, therefore, raise C$13 million.
The deal priced with a C$1.2 million greenshoe on March 12.
The company will now sell 12,380,952 common shares at C$1.05 apiece. There is now a greenshoe for an additional 1,857,143 shares, or C$1.95 million.
Jennings Capital Inc. is the lead agent in a syndicate, which will include Raymond James Ltd.
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: | Common shares
|
| Amount: | C$13 million
|
| Greenshoe: | C$1.95 million
|
| Shares: | 12,380,952
|
| Price: | C$1.05
|
| Warrants: | No
|
| Agent: | Jennings Capital Inc. (lead), Raymond James Ltd.
|
| Pricing date: | March 12
|
| Upsized: | March 18
|
| Stock symbol: | TSX Venture: TRR
|
| Stock price: | C$1.28 at close March 11
|
| Market capitalization: | C$50.4 million
|
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