Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) has closed the previously announced bought-deal private placement issuing 18,171,700 common shares of the Company ("Common Shares") (inclusive of 1,504,700 Common Shares issued pursuant to the exercise in part of the underwriters' over-allotment option) at a price of Cdn$0.60 per share for aggregate gross proceeds of Cdn$10,903,020 (the "Offering"). The Offering was led by Dundee Securities Ltd. and included Raymond James Ltd.
In connection with the Offering, the underwriters received a cash commission equal to 5% of the gross proceeds of the Offering. All securities issued pursuant to the Offering are subject to a hold period that will expire four months and one day from the date of closing as well as any additional hold periods required in jurisdictions where subscribers to the Offering reside.
The net proceeds will be used to advance mine commissioning and production start-up at Trevali's Santander zinc-lead-silver mine in Peru, to advance Trevali's New Brunswick projects, and for general corporate purposes including working capital.