Deal sells 18,171,700 common shares; greenshoe partially exercised
By Devika Patel
Knoxville, Tenn., June 12 - Trevali Mining Corp. said it completed a C$10.9 million brokered private placement of stock. The deal priced for C$10 million with a C$1.5 million greenshoe on May 21.
The company sold 18,171,700 common shares at C$0.60 each on a bought-deal basis. The price per share is a 6.25% discount to C$0.64, the May 20 closing share price. Of the shares, 1,504,700 were part of the partially exercised greenshoe.
The deal was conducted by lead underwriter Dundee Securities Ltd. and included Raymond James Ltd.
Proceeds will be used to advance the company's Santander Project in Peru and New Brunswick Projects and for general corporate purposes, including working capital.
Trevali is a Vancouver, B.C.-based copper, zinc, lead and silver exploration company.
| Issuer: | Trevali Mining Corp.
|
| Issue: | Common stock
|
| Amount: | C$10,903,020 (including C$902,820 greenshoe)
|
| Shares: | 18,171,700
|
| Price: | C$0.60
|
| Warrants: | No
|
| Underwriters: | Dundee Securities Ltd. (lead), Raymond James Ltd.
|
| Pricing date: | May 21
|
| Settlement date: | June 12
|
| Stock symbol: | Toronto: TV
|
| Stock price: | C$0.64 at close May 20
|
| Market capitalization: | C$122.72 million
|
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