By Devika Patel
Knoxville, Tenn., Dec. 11 - Trevali Resources Corp. said it completed a C$7 million non-brokered private placement of units. The deal priced for C$7 million with a C$700,000 greenshoe on Nov. 5.
The company sold 11,002,000 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.
Of the units, 1,002,000 were part of the fully exercised greenshoe.
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$7,701,400 (including C$701,400 greenshoe)
|
| Units: | 11,002,000
|
| 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
|
| Settlement date: | Dec. 11
|
| Stock symbol: | Pink Sheets: TREVF
|
| Stock price: | $0.7463 at close Nov. 4
|
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