By Devika Patel
Knoxville, Tenn., Dec. 31 - Trelawney Resources Inc. said it took in C$1.37 million in a non-brokered private placement of units.
The company sold 13.74 million units at C$0.10 per unit. Each unit consists of one flow-through common share and one half-share warrant. Each whole warrant will be exercisable at C$0.20 until Dec. 20, 2008. MineralFields Group bought 8 million of the units for C$800,000.
Limited Market Dealer received a finder's fee of 400,000 common shares and 800,000 warrants, with each warrant exercisable on the same terms as those sold in the placement. The company also paid 10% in finder's fees to other finders.
Proceeds will be used for drilling and exploration.
Toronto-based Trelawney Resources is a preliminary or early stage mineral exploration and mine development company.
| Issuer: | Trelawney Resources Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1,374,000
|
| Units: | 13.74 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Dec. 20, 2008
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Investor: | MineralFields Group (for C$800,000.
|
| Fees: | 400,000 common shares, 800,000 warrants, 10%
|
| Settlement date: | Dec. 31
|
| Stock symbol: | TSX Venture: TRR
|
| Stock price: | C$0.095 at close Dec. 31
|
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