Trevali gets extension of waiver of revolver covenants until May 31

By Wendy Van Sickle

Columbus, Ohio, April 30 – Trevali Mining Corp. said it has been granted an extended waiver of compliance with the existing financial covenants of its revolving credit facility until May 31.

The company is continuing to talk with its syndicate of lenders on a solution to short-term financing and liquidity requirements, according to a news release.

No other amendments to the facility have been made as part of the waiver extension.

Trevali added that it has RBC Capital Markets as its financial adviser to conduct a comprehensive strategic review process that will explore financing alternatives to enhance shareholder value.

Alternatives could include a recapitalization of the company, a strategic investment in the company by a third-party, a business combination with another entity and/or a reduction of the principal outstanding under the revolver due to mature in September 2022

Trevali is a Vancouver B.C.-based zinc-focused base metals mining company with operations in Peru and Canada.

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