Trevali Mining Closes $52.5-million Senior Secured Notes Offering

Trevali Mining Corporation (TSX:TV,BVL:TV,OTCQX:TREVF, FWB:4TI) has closed its previously announced offering of 52,500 units consisting of 12.5 percent Senior Secured Notes due May 30, 2019 and Common Share purchase warrants at a price of C$980 per unit, for aggregate proceeds of C$51,450,000. Each unit consists of C$1,000 principal amount of Notes and 123.2 Warrants. Each whole Warrant shall entitle the holder thereof, subject to certain conditions, to purchase one Common Share at an exercise price of $1.26.

As quoted in the press release:

Trevali intends to use the net proceeds from the Offering: (i) to refinance the RMB Resources Limited Bridge Facility due June 30, 2014; (ii) to fund Trevali’s asset build-out of the Caribou Mine and Mill in New Brunswick; (iii) to repay Trevali’s US$2 million convertible notes; and (iv) for general corporate purposes.

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