Trevali Mining Corporation ( (TSX:TV) (OTCQX:TREVF) (LMA:TV) (FRANKFURT:4TI) announced today that it has closed its previously announced bought-deal offering of 55,430,000 common shares of the Company (inclusive of 7,230,000 Common Shares issued pursuant to the exercise in full of the underwriters’ over-allotment option) at a price of $0.83 per share for aggregate gross proceeds of $46,006,900. The Common Shares were offered pursuant to a short form prospectus dated November 26, 2013 and were underwritten by a syndicate of underwriters led by Dundee Securities Ltd. and included Raymond James Ltd., M Partners Inc., Haywood Securities Inc. and Mackie Research Capital Corporation.
Trevali intends to use the net proceeds of the Offering to pay expenses relating to the restart of the Company’s 3,000 tonne-per-day Caribou mine and mill complex located near Bathurst, New Brunswick and for general working capital purposes, as more fully described in the Prospectus.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals mining company with operations in Canada and Peru.
In Peru, the Company has commenced commissioning and concentrate production at its Santander zinc-lead-silver mine and metallurgical plant with subsequent ramp up to 2,000-tonne-per-day production scheduled in December 2013. The Company anticipates declaring Commercial Production at the Santander Mine shortly.
In Canada, Trevali owns the Caribou mine and mill, Halfmile mine and Stratmat polymetallic deposit all located in the Bathurst Mining Camp of northern New Brunswick. Initial trial production from the Halfmile underground mine was successfully undertaken in 2012 and the Company anticipates commencing operations at its 3,000-tonne-per-day Caribou Mill Complex in 2014.
All of the Company’s deposits remain open for expansion.
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