Business
Trevali Provides Update on Revolving Credit Facility
Trevali Provides Update on Revolving Credit Facility.
About this update from Trevali Mining Corp.
[{"type":"text","content":"\n VANCOUVER, British Columbia, May 29, 2020 (GLOBE NEWSWIRE) -- Trevali Mining Corporation (“Trevali” or the “Company”) (TSX: TV, BVL: TV; OTCQX: TREVF, Frankfurt: 4TI) announced today that it continues to engage with its syndicate of lenders on a solution to short-term financing and liquidity requirements, and has been granted a waiver of compliance with the existing financial covenants until June 30, 2020. In addition, the facility has been permanently reduced from $275 million to $200 million, allowing the Company to save on standby fees. The temporary reduction to the availability under the facility to $125 million announced on April 3, 2020 remains in place at this time. The Company continues to work with its financial advisors on the strategic review process to explore financing alternatives to enhance shareholder value. No timeline for its completion has been currently defined. 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. Investor Relations Contact:Brendan Creaney – Vice President, Investor RelationsEmail: [email protected]: +1 (778) 655-6070 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 Un...