By Devika Patel
Knoxville, Tenn., Nov. 5 - Trevali Resources Corp. announced plans for a C$7 million non-brokered private placement of units. There is a C$700,000 greenshoe.
The company will sell 10 million units of one common share and one half-share warrant at C$0.70 apiece. Each whole warrant is exercisable at C$1.15 for two years.
Proceeds will be used for exploration and development of the Santander silver-lead-zinc mine project in Peru and to fulfill the company's 18-month budgetary requirements for its Toronto Stock Exchange listing application.
Trevali Resources is a mining company based in Vancouver, B.C.
| Issuer: | Trevali Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$7 million
|
| Greenshoe: | C$700,000
|
| Units: | 10 million
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$1.15
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 5
|
| Stock symbol: | Pink Sheets: TREVF
|
| Stock price: | $0.7463 at close Nov. 4
|
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