/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION TO THE UNITED
STATES/
VANCOUVER, BC, Dec. 2, 2020
/CNW/ - Trevali Mining Corporation ("Trevali" or the
"Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) (Frankfurt: 4TI) is pleased to announce
the closing of its previously announced marketed offering (the
"Offering") of 186,530,000 units (each, a "Unit") at a price of
C$0.185 per Unit for aggregate gross
proceeds of C$34,508,050, which
includes the exercise of the full amount of the over-allotment
option of 24,330,000 Units. Each Unit is comprised of one common
share (each, a "Common Share") and one-half of one Common Share
purchase warrant (each whole warrant, a "Warrant"), with each
Warrant entitling the holder thereof to acquire one Common Share at
a price of C$0.23 until June 2, 2022. Glencore plc exercised its
pre-emptive participation rights in the Offering to purchase
49,000,000 Units.
![Trevali Mining Corporation Logo (CNW Group/Trevali Mining Corp.) Trevali Mining Corporation Logo (CNW Group/Trevali Mining Corp.)](https://mma.prnewswire.com/media/1347008/Trevali_Mining_Corp__Trevali_Closes_C_34_508_050_Unit_Offering_I.jpg)
The Company has received conditional approval to have the
Warrants listed for trading on the Toronto Stock Exchange, subject
only to compliance with certain standard listing conditions. The
Common Shares and Warrants issued pursuant to the Offering are
expected to trade under the symbols "TV" and "TV.WT",
respectively.
The Company intends to use the net proceeds of the Offering for
general corporate and working capital purposes, including advancing
work on the Rosh Pinah RP 2.0
expansion project and its associated feasibility study, undertaking
additional exploration work, continuing the study and potential
restart of the Caribou operation, and repaying amounts of the
Company's indebtedness.
RBC Capital Markets and Scotiabank were the lead underwriters of
the Offering in a syndicate that included HSBC Securities
(Canada) Inc., BMO Capital
Markets, National Bank Financial Inc. and TD Securities Inc.
The Offering was made in Canada
under a prospectus supplement dated November
25, 2020 (the "Supplement") to the Company's short form base
shelf prospectus dated November 19,
2020, which was filed with the securities regulatory
authorities in each of the provinces and territories of
Canada. The Offering was conducted
in each of the provinces and territories of Canada, other than Quebec, and in the U.S. by way of a private
placement pursuant to exemptions from the registration requirements
of the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), and applicable U.S. state securities laws.
The securities offered have not been and will not be registered
under the U.S. Securities Act and may not be offered or sold in the
U.S. absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
A copy of the Supplement or the related U.S. private placement
memorandum can be obtained from RBC Dominion Securities Inc.,
Attention: Distribution Centre, 180 Wellington Street West, 8th
Floor, Toronto, Ontario M5J 0C2,
or by telephone at 1-416-842-5349, or by email at
Distribution.RBCDS@rbccm.com and from Scotia Capital Inc.,
Attention: Equity Capital Markets, Scotia Plaza, 62nd Floor, 40
King Street West, Toronto, Ontario
M5H 3Y2, or by telephone at 1-416-863-7704 or by email at
equityprospectus@scotiabank.com.
ABOUT TREVALI
Trevali is a global base-metals mining company, headquartered in
Vancouver, Canada. The bulk of
Trevali's revenue is generated from base-metals mining
at its three operational assets: the 90%-owned Perkoa Mine in
Burkina Faso, the 90%-owned Rosh
Pinah Mine in Namibia, and the
wholly-owned Santander Mine in Peru. In addition, Trevali owns the Caribou
Mine, Halfmile and Stratmat Properties and the Restigouche Deposit
in New Brunswick, Canada, and the
past-producing Ruttan Mine in northern Manitoba, Canada. Trevali also owns an
effective 44%-interest in the Gergarub Project in Namibia, as well as an option to acquire a
100% interest in the Heath Steele deposit located in New Brunswick, Canada.
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.
Cautionary Note Regarding Forward–Looking Information and
Statements
This news release contains "forward–looking information" within
the meaning of Canadian securities legislation and "forward–looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively,
"forward–looking statements"). Forward–looking statements are based
on the beliefs, expectations and opinions of management of the
Company as of the date the statements are published, and the
Company assumes no obligation to update any forward–looking
statement, except as required by law. In certain cases,
forward–looking statements can be identified by the use of words
such as "plans", "expects", "outlook", "guidance", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might", "will be taken", "occur" or "be achieved" or the negative
of these terms or comparable terminology. The forward-looking
statements in this press release include, without limitation,
statements with respect to the Company's the use of proceeds from
the Offering.
Forward–looking statements relate to future events or future
performance and reflect management's expectations or beliefs
regarding future events including the Company's expected use of the
proceeds from the Offering. By their very nature, forward–looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward–looking statements. Such factors include, among others,
risks related to the Offering, including that the Company may not
use the proceeds from the Offering as described in this press
release; and other risks of the mining industry including, without
limitation, other risks and uncertainties that are more fully
described in the "Risks and Uncertainties" section of the Q3 2020
MD&A and the "Risk Factors" section of our most recently filed
Annual Information Form. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward–looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. Trevali provides no assurance that forward–looking
statements will prove to be accurate, as actual results and future
events may differ from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward–looking statements.
SOURCE Trevali Mining Corp.