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Trelawney
Announces $50.0 Million Bought Deal Public Offering of Common Shares
NOT
FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES
May 10, 2011 - Toronto, Ontario - Trelawney Mining and Exploration Inc.
(�Trelawney� or the �Company�) (TSXV:
TRR, Frankfurt: RTW)
is pleased to announce that it has entered into an
agreement with a syndicate of underwriters led by RBC Capital Markets (the
"Underwriters"), under which the Underwriters have agreed to
purchase on a "bought deal" basis pursuant to a short form
prospectus, 12,500,000 common shares of the Company at a price of CDN$4.00
per common share (the "Offering Price") for aggregate gross
proceeds of CDN$50.0 million (the "Offering"). The Company
has granted the underwriters an over-allotment option to purchase up to an
additional 15% of the Offering at the Offering Price, exercisable in whole
or in part, at any time prior to the 30th day following the Closing Date.
Net proceeds of the offering will be used to advance development of the
Company's Cote Lake project and for general corporate purposes.
The Offering is scheduled to close on or about May 31, 2011 (the
"Closing Date") 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 May
16, 2011. The securities offered have not been and will not be registered
under the U.S. Securities Act of 1933, as amended, and may not be offered
or sold in the United States absent registration or an applicable exemption
from the registrations requirements of such Act. This press release shall
not constitute an offer to sell or the solicitation of an offer to buy the
securities in any jurisdiction in which such offer, sale or solicitation
would be unlawful.
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).
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.
For further
information contact:
Greg Gibson, President and CEO
416-363-8567 or ggibson@trelawneymining.com
- or-
Andres Tinajero, CFO
416-363-8567 or atinajero@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.
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