TORONTO, Dec. 23 /CNW/ - Libra Advisors, LLC ("Libra"), announced today that it has acquired 6,000,000 Units of Trelawney Mining and Exploration Inc. ("Trelawney") at a price of $0.50 per Unit in connection with Trelawney's private placement. Each Unit consists of one common share and one half of one common share purchase warrant. Each warrant entitles the holder to acquire one common share, at a price of $0.70 per warrant for a period of 24 months.
As a result of the acquisition, Libra now holds 6,000,000 common shares, representing approximately 9.3% of the outstanding common shares of Trelawney, and 3,000,000 warrants of Trelawney that, if exercised, would result in Libra holding approximately 13.3% of the total outstanding common shares of Trelawney.
Libra acquired these Units for investment purposes and may, from time to time, acquire additional securities of Trelawney or dispose of such securities as it may deem appropriate.
Libra is the investment advisor to Libra Fund, LP and Libra Offshore Master Fund, LP with principal offices at 909 Third Avenue, 29th Floor, New York, NY 10022.
SOURCE LIBRA ADVISORS, LLC
For further information: For further information: Mr. Ranjan Tandon, Managing Member at (212) 350-5125