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Trevali Closes $14,950,000 Public Offering

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Trevali Closes $14,950,000 Public Offering






Trevali Mining Corporation (TSX:TV) (BVL:TV) (OTCQX:TREVF) (FRANKFURT:4TI) announces that it has closed its previously announced “best efforts” marketed offering of 46,718,750 common shares of the Company (inclusive of 6,093,750 Shares issued pursuant to the exercise in full of the Agents’ over-allotment option) at a price of $0.32 per Share for aggregate gross proceeds of $14,950,000 The Shares were offered pursuant to a short form prospectus dated March 10, 2016 and were marketed by a syndicate of Agents led by Dundee Securities Ltd. and including Raymond James Ltd., Scotia Capital Inc., GMP Securities L.P., Haywood Securities Inc., Laurentian Bank Securities Inc. and Paradigm Capital Inc.



Trevali intends to use the net proceeds of the Offering for ongoing commissioning and ramp-up expenditures at its Caribou Zinc Mine in New Brunswick, for working capital and general corporate purposes, as more particularly described in the Prospectus.



Warrant Price Adjustment



The Company also announces that as a result of the Offering, the exercise price of 7,502,880 previously issued warrants to purchase Shares with an expiry date of December 30, 2020 has been adjusted from $0.391 to $0.368. The Exercise Price Adjustment represents a new warrant exercise price equal to 115% of the subscription price of the Shares issued in connection with the Offering. Pursuant to the terms of the Company’s warrant indenture dated May 30, 2014, as supplemented by the first and second supplemental warrant indentures, each dated December 30, 2015, the Company is required to adjust the exercise price of the Warrants if and whenever, at any time on or after December 30, 2015 and on or prior to June 30, 2016, the Company issues Shares, or securities convertible into or exchangeable for Shares, at a price lower than the threshold price calculated in accordance with the terms of the Indenture. The Exercise Price Adjustment in relation to the issuance of the Shares is effective as of March 10, 2016. The Company additionally confirms that the warrant holders are all arm’s length.






Trevali is a zinc-focused, base metals mining company with one producing operation in Peru and another currently undergoing commissioning in Canada.



In Peru, the Company is actively producing zinc and lead-silver concentrates from its 2,000-tonne-per-day Santander zinc mine.



In Canada, Trevali owns the Caribou mine and mill, Halfmile mine and Stratmat deposit all located in the Bathurst Mining Camp of northern New Brunswick. The Company is currently commissioning its 3,000-tonne-per-day Caribou zinc mine.



All of the Company’s deposits remain open for expansion.


Posted March 16, 2016

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