Trelawney Announces That 88.8% of Augen Gold Corp. Shares have Been Tendered to Its Offer

Trelawney Mining and Exploration (TSXV:TRR) announced that approximately 139,579,223 common shares of Augen Gold Corp. (TSXV:GLD) have been validly deposited to its offer to acquire all of the issued and outstanding shares of Augen Gold.

The press release is quoted as saying:

Under the Offer, which has the full support of the Augen Gold Board of Directors, Augen Gold shareholders will receive 0.0862 of a common share of Trelawney (each whole share, a “Trelawney Share”) in exchange for each Augen Gold Share they own. Trelawney will take up and issue Trelawney Shares as payment for the Augen Gold Shares deposited to the Offer no later than three business days after being taken up.

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