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Announces Debt Settlement
posted on
Feb 18, 2009 08:02AM
February 18, 2009
Trelawney Announces Debt Settlement
TORONTO, ONTARIO--(Marketwire - Feb. 18, 2009) - Trelawney Resources Inc. (the "Company") (TSX VENTURE:TRR) announces that further to its press release dated January 6, 2009, it has agreed to settle an aggregate of $9,000 of indebtedness through the issuance an aggregate of 600,000 common shares ("Common Shares") of the Company at a price $0.015 per share, in consideration for services provided by certain consultants and officers of the Company.
In addition, the Company has agreed to settle rent payments outstanding in the amount of $12,812.10, through the issuance of 854,140 Common Shares to the lessor of the property at a price of $0.015 per share.
The issuance of the Common Shares is subject to the approval of the TSX Venture Exchange and the securities issued will be subject to a four month hold period.
