10:16 | Lima, Mar. 25 (ANDINA).
Canadian-based Trevali Resources Corp. announced a US$10.23 million private placement financing which net proceeds are intended to be used for construction of the Santander Mine, continued exploration expenditures in Peru and for general administrative and corporate purposes.
The company said it has appointed Raymond James Ltd. and M Partners Inc. as its underwriters to sell, by private placement on an overnight marketed basis, common shares of Trevali at a price to be determined in the context of the market for gross proceeds of US$ 7.16 million.
In addition, Trevali will complete a non-brokered private placement on the same terms for gross proceeds of US$3.07 million.
The company has agreed to pay the underwriters a cash fee equal to 6.0% of the gross proceeds from the offering.
As additional compensation, the underwriters will be issued compensation options entitling the underwriters to purchase that number of common shares of the company equal to 6.0% of the number of the common shares sold under the offering exercisable at the close price of Trevali on March 21, 2011 for a period of 24 months from the closing date of the offering.
Additionally, a Finder's Fee of 6% of the gross proceeds of the non-brokered offering may be payable.
The closing of this equity offering is expected to occur on or about April 6th, 2011 and is subject to receipt of all necessary regulatory approvals. The common shares and compensation options issued with respect to this equity offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.
Trevali in conjunction with its partner, Glencore International A.G., has entered into a definitive development agreement for the Santander zinc-lead-silver project in west-central Peru that will see Glencore provide and operate on the property, a 2,000-tonne-per-day concentrate plant.
It will also see Glencore undertake mining operations on a 'contractor/toll basis' and enter into a long-term concentrate offtake agreement with the company for 100% of the Santander project's production at International Benchmark terms.
Additionally, through its wholly owned subsidiary Trevali Renewable Energy Inc., Trevali is undertaking a significant upgrade of the Tingo run-of-river hydroelectric generating facility along with transmission line upgrades and extensions to allow, in addition to supplying power to the mining operation on the property, the potential sale of surplus power into the Peruvian National Energy Grid.
Trevali has also recently entered into a definitive Arrangement Agreement with Kria Resources Ltd. (Kria) to complete a business combination whereby the former will acquire all of the issued and outstanding common shares of Kria, and this one will become a wholly-owned subsidiary of Trevali.
The common shares of Trevali are currently listed on the TSX (symbol TV).
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Publicado: 24/3/2011