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Trevali Closes C$34,508,050 Unit Offering Including Full Exercise of Over-Allotment Option
Trevali Closes C$34,508,050 Unit Offering Including Full Exercise of Over-Allotment Option.
About this update from Trevali Mining Corp.
[{"type":"text","content":"\n\n\n\nTrevali Closes C$34,508,050 Unit Offering Including Full Exercise of Over-Allotment Option\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nTrevali Closes C$34,508,050 Unit Offering Including Full Exercise of Over-Allotment Option\nCanada NewsWire\nVANCOUVER, BC, Dec. 2, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES/\n 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.\n\n \n \n \n \n \n \n\n \nThe 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.\nThe 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.\nRBC Capital Markets and Scotiabank were the lead underwriters of the Offering in a syn...