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TRELAWNEY ANNOUNCES $25.0 MILLION BOUGHT DEAL PUBLIC OFFERING OF FLOW?THROUGH COMMON SHARES NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
November 7, 2011, Toronto, ON - Trelawney Mining and
Exploration Inc. ("Trelawney" or the "Company"), (TSXV: TRR)
is pleased to announce that it has entered into an agreement
with a syndicate of underwriters led by RBC Capital Markets
(collectively, the "Underwriters"), pursuant to
which the Underwriters have agreed to purchase, on a
"bought deal" basis, 5,320,000 flow?through common
shares ("Flow?Through Shares") of the Company at a price of
$4.70 per Flow?Through Share for gross proceeds of $25.0
million pursuant to a short form prospectus (the
"Offering").
Proceeds of the Offering will be used by Trelawney to incur
Canadian exploration expenses (the "Qualifying Expenditures")
on its properties located in Northern Ontario prior to
December 31, 2012. The Company will renounce the Qualifying
Expenditures to subscribers of the Flow?Through Shares for
the fiscal year ended December 31, 2011.
The Offering is scheduled to close on or about November 28,
2011 and is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals including
the approval of the TSX Venture Exchange.
Under the terms of the agreement, the Company is required to
file a preliminary short?form prospectus and obtain a receipt
from the securities regulatory authorities in all provinces
of Canada, except Quebec, by November 21, 2011, or such later
date as may be agreed by the Company and the Underwriters.
The securities offered have not been and will not be
registered under the U.S. Securities Act of 1933, as amended
(the "1933
Copies of the preliminary prospectus may be obtained from RBC
Capital Markets, Attention: Distribution
Centre, 277 Front St. W., 5th Floor, Toronto, Ontario M5H 2X4
(tel: 416?842?5349).
For further information contact: Greg Gibson, President and
CEO
416?363?8567 or ggibson@trelawneymining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward?looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward?looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.