Newcastle Minerals and Trelawney Close Private Placement

Newcastle Minerals Ltd.(TSXV:NCM) announced that it has closed its previously announced private placement with Trelawney Mining. The private placement closed for 10,000,000 units at $0.05 per unit.

As quoted in the press release:

Each unit consists of one common share and one-half of one warrant. Each full warrant, in turn, entitles the holder to purchase an additional common share at a price of $0.10 until March 5, 2013. The units are subject to a hold period expiring July 6, 2012.

Newcastle, President, Michael Romanik, said:

We welcome Trelawney Mining and Exploration Inc. as a strategic Newcastle shareholder. We expect to develop a productive, long-term relationship with Trelawney, including the sharing of insights with respect to Newcastle’s Swayze Belt claims to help us realize the full potential of our projects.

Click here to read the Newcastle Minerals Ltd. (TSXV:NCM) press release