TORONTO, ONTARIO--(Marketwire - Nov. 4, 2011) - Trelawney Mining and Exploration Inc. ("Trelawney") (TSX VENTURE:TRR)(FRANKFURT:RTW) and Augen Gold Corp. ("Augen Gold") announces today that Trelawney has completed its previously announced compulsory acquisition, pursuant to provisions of the Business Corporations Act (Ontario) (the "Act"), of all of the outstanding common shares of Augen ("Augen Gold Shares") that it does not already own.
As a result of the compulsory acquisition, Augen Gold is now a wholly-owned subsidiary of Trelawney and former Augen Gold shareholders are entitled to receive 0.0862 of a common share of Trelawney (each whole common share, a "Trelawney Share") for each Augen Gold Share formerly held by them. To effect the compulsory acquisition, Trelawney has mailed a notice of compulsory acquisition to the shareholders of Augen Gold.
Deposits of Augen Shares with Equity Financial Trust Company, depositary for Trelawney can continue be effected using the letter of transmittal that has been mailed to former Augen shareholders along with the notice of compulsory acquisition. A copy of the notice and letter of transmittal are available online on Augen's profile at www.sedar.com.
The Augen Shares have been de-listed from the TSX Venture Exchange as at the close of markets on Friday, October 28, 2011.
Trelawney is a Canadian junior mining and exploration company with a focus on Archean gold deposits. The Company's current focus is directed towards the continued exploration and development of the Côté Lake Deposit, located in Chester Township 20 kilometres southwest of Gogama, Ontario.
This press release contains only summary information about the Offer and does not constitute an offer to purchase any securities. Complete information about the Offer is available by referring to the offer to purchase and take-over bid circular filed with Canadian securities regulators. Certain statements contained in this press release concerning Trelawney's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates are forward-looking statements. The words "believe", "expect", "intend", "may", "anticipate", "will", "would" and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are not based on historical facts, but rather on current expectations, assumptions and projections about future events. While Trelawney considers these factors and assumptions to be reasonable based on information currently available, they may be proven to be incorrect. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to general economic conditions; dependence on key personnel; and variations in required capital expenditures. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.
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.