Back to all Representative Matters
Jan 8, 2016

Trevali Mining Corporation Amends $52.5 Million Original Note Indenture

On December 30, 2015, Trevali Mining Corporation (“Trevali” or the “Company”) (TSX: TV) amended, by way of entering into a supplemental note indenture, its original note indenture with its senior secured holders (“Noteholders”) of its $52.5 million senior secured notes (each a “Note” and collectively the “Notes”) placed on May 30, 2014 (the “May 2014 Offering”) to extend and expand the debt facility. Under the amended agreement, the Company issued an additional $8.4 million in new Notes (“New Notes”) and received a waiver for the Company’s $7.5 million amortization payment scheduled to be made on August 30, 2016 – which will now be deferred until August 30, 2017.

In relation to the above amendments and issuance of New Notes, the 6,468,000 five-year Warrants issued in connection with the May 2014 Offering were repriced downward from $1.26 to $0.475 and the term of such Warrants was extended to a new five-year term. In addition, in connection with the New Notes issued, an additional 1,034,880 five-year Warrants were issued having an exercise price of $0.475.

Dr. Mark Cruise, President and CEO of Trevali, stated: “We are very pleased to receive such a strong vote of confidence from our Noteholders, leading Canadian financial institutions, as we continue to advance our Caribou Zinc Mine towards commercial production. Along with the Company, all stakeholders in the Caribou mine – the Province of New Brunswick, our First Nation partners and Glencore – continue to strongly support our operations and are working diligently to ensure the ongoing success of the project.”

Trevali is a zinc-focused, base metals mining company with one producing operation in Peru and another currently undergoing commissioning in Canada. In Peru, the Company is actively producing zinc and lead-silver concentrates from its 2,000-tonne-per-day Santander mine. In Canada, Trevali owns the Caribou mine and mill, Halfmile mine and Stratmat deposit all located in the Bathurst Mining Camp of northern New Brunswick. The Company is currently commissioning its 3,000-tonne-per-day Caribou mine.

Aird & Berlis LLP acted for Trevali Mining Corporation with a team consisting of Tom Fenton, Chris Berrigan, Melanie Cole, Aaron Collins, Barb Worndl and articling student Liam Tracey-Raymont.

Related Representative Matters

Representative Matters
Allied Properties REIT Completes $400 Million Debt Offering Margaret T. Nelligan, Sherri M. Altshuler, Anne E. Miatello, Melanie Cole, Liam Tracey-Raymont, Amy Marcen-Gaudaur, Russell J. Sanders, Meredith McCann, Michael D. Smith, Neill Kalvin, Zale Skolnik and Barbara Worndl Feb 26, 2020 On February 21, Allied completed an offering of $400 million aggregate principal amount of Series F Debentures pursuant to a prospectus supplement dated February 6, 2020 to a short form base shelf prospectus dated November 19, 2019.
Representative Matters
Representative Matters
Drake Launches Cannabis Wellness Company with Canopy Growth Jack Bernstein, Francesco Gucciardo, Andrew Nicholls, Martin Kovnats, Liam Tracey-Raymont and Faruk Gafic Nov 07, 2019 Aubrey Drake Graham, in agreements with Toronto-based Canopy Growth Corporation, launched More Life Growth Company™.