It only took about 2 months after WTM was taken out by LSG after the TSX accepted the poison pill filing. Could TRR have a similar fate?

Trelawney swallows poison pill

2010-03-09 11:36 PT - News Release

Mr. Greg Gibson reports

TRELAWNEY ADOPTS SHAREHOLDER RIGHTS PLAN

Trelawney Mining and Exploration Inc.'s board of directors has approved the adoption of a shareholder rights plan to ensure, to the extent possible, that all Trelawney shareholders are treated equally and fairly in connection with any takeover bid, and to provide sufficient time for all shareholders to consider any such transaction. Trelawney is not aware of any pending of threatened takeover bids for the company.

Trelawney has executed a shareholder rights plan agreement with Trans Canada Transfer Company. The plan requires ratification by Trelawney's shareholders, and will be submitted to the shareholders for consideration at Trelawney's annual and special meeting of shareholders which will be scheduled for June, 2010. The plan is also subject to TSX Venture Exchange approval.

Under the plan, shareholders are issued one right in respect of each Trelawney common share held, such right being attached to the share. On the occurrence of certain triggering events, including the acquisition by a person or group of 20 per cent or more of the outstanding common shares of the company pursuant to a transaction that does not meet certain conditions, the right will entitle its holder (other than the acquiring person or group) to purchase Trelawney common shares at a 50-per-cent discount to market.

The complete text of the shareholder rights plan agreement is available on SEDAR.

We seek Safe Harbor.