Trevali Mining Corporation (“Trevali” or the
“Company”)
(TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt:
4TI) announces that the Toronto Stock Exchange (“TSX”) has
accepted its notice to implement a normal course issuer bid
(“NCIB”) to purchase, for cancellation, up to 40,000,000 common
shares representing approximately 6.5% of Trevali’s “public float”
of common shares (calculated in accordance with the rules of the
TSX), having a maximum aggregate purchase price of C$20 million,
over a twelve month period commencing on November 19, 2018. The
NCIB will expire no later than November 18, 2019.
All purchases made pursuant to the NCIB will be
made through the facilities of the TSX or alternative Canadian
trading systems, in open market transactions or by such other means
as may be permitted under applicable securities laws. The price
that Trevali will pay for common shares in open market transactions
will be the market price at the time of purchase.
In accordance with TSX rules, any daily
purchases (other than pursuant to a block purchase exemption) on
the TSX under the NCIB are limited to a maximum of 547,457 common
shares, which represents 25% of the average daily trading volume on
the TSX for the six months ended October 31, 2018. As of November
14, 2018, the Company has 831,196,085 common shares
outstanding.
Trevali has appointed BMO Nesbitt Burns Inc. to
conduct the NCIB on its behalf. Trevali may enter into an automatic
purchase plan with its broker to allow for the repurchase of shares
during internal trading blackout periods. Any such plan entered
into with Trevali’s broker will be adopted in accordance with
applicable Canadian securities laws and would be subject to prior
approval of the TSX.
Trevali believes that initiating the NCIB at the
current time represents an attractive use of cash, with now an
opportune time to return cash to shareholders. The actual number of
common shares that will be repurchased under the NCIB, and the
timing of any such purchases, will be determined by Trevali based
on market conditions, Trevali’s share price, alternative uses of
cash and other factors. There cannot be any assurances as to how
many common shares, if any, will ultimately be acquired by Trevali
under the NCIB.
ABOUT TREVALI MINING
CORPORATIONTrevali is a zinc-focused, base metals company
with four mines: the 90% owned Perkoa mine in Burkina Faso, the 90%
owned Rosh Pinah mine in Namibia, the wholly-owned Caribou mine in
the Bathurst Mining Camp of northern New Brunswick in Canada, and
the wholly-owned Santander mine in Peru.
The shares of Trevali are listed on the TSX
(symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange
(symbol TV), and the Frankfurt Exchange (symbol 4TI). For further
details on Trevali, readers are referred to the Company’s website
(www.trevali.com) and to Canadian regulatory filings on SEDAR at
www.sedar.com.
On Behalf of the Board of Directors ofTREVALI MINING
CORPORATION“Mark D. Cruise” (signed)Mark D. Cruise,
President
Contact Information:Steve Stakiw, Vice
President - Investor Relations and Corporate CommunicationsEmail:
sstakiw@trevali.comPhone: (604) 488-1661 / Direct: (604)
638-5623
Cautionary Note Regarding
Forward-Looking StatementsThis news release contains
“forward-looking information” within the meaning of the Canadian
securities legislation and “forward-looking statements” within the
meaning of Section 27A of the United States Securities Act of 1933,
as amended, Section 21E of the United States Exchange Act of 1934,
as amended, the United States Private Securities Litigation Reform
Act of 1995, or in releases made by the United States Securities
and Exchange Commission, all as may be amended from time.
Statements containing forward-looking information express, as at
the date of this news release, the Company’s plans, estimates,
forecasts, projections, expectations, or beliefs as to future
events or results. Such forward-looking statements and information
include, but are not limited to, statements as to the Company’s
intentions regarding the normal course issuer bid, and the number
of common shares that might be purchased by the Company under the
normal course issuer bid and the terms and conditions of any such
purchases.
These statements reflect the Company’s current
views with respect to future events and are necessarily based upon
a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. If any assumptions are untrue, it could cause
actual results, performance or achievements to be materially
different from future results, performance or achievements
expressed or implied by such statements. Assumptions have been made
regarding, among other things, present and future business
strategies and the environment in which the Company will operate in
the future, including commodity prices, anticipated costs and
ability to achieve goals.
Forward-looking statements are subject to known
and unknown risks, uncertainties and other important factors that
may cause the Company’s actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to: the ability to acquire common shares in the
market through the normal course issuer bid and in compliance with
regulatory requirements; share price volatility; availability of
funds to purchase shares under the normal course issuer bid, as
well as other risks as more fully described in the Company’s annual
information form for the year ended December 31, 2017, which is
available on the Company’s website (www.trevali.com) and filed
under our profile on SEDAR (www.sedar.com). Investors are cautioned
against attributing undue certainty or reliance on forward-looking
statements. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated, described or intended. The Company does
not intend, and does not assume any obligation, to update these
forward-looking statements or information to reflect changes in
assumptions or changes in circumstances or any other events
affecting such statements or information, other than as required by
applicable law.
Source: Trevali Mining Corporation
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