Canadian mining firm Trevali completes USD46-million financing
Trevali Mining Corp announced on Thursday that it had raised USD46 million in a recent bought deal financing. The mining firm completed the amount by offering 55.4 million of its shares at USD0.83 apiece, according to Mining Weekly.
The transaction was underwritten by a group of underwriters led by Dundee Securities. The syndicate also included Raymond James, Haywood Securities, Mackie Research Capital, and M Partners, the report said.
According to Trevali, the company intended to use the newly raised funds for its mine and mill complex in Caribou. The firm will also use the net proceeds for general working capital purposes. The said mine is located near Bathurst, New Brunswick. the report stated.
On Thursday, Trevali's stock was up 2.47% at USD0.83 apiece on the Toronto Stock Exchange, Mining Weekly reported.
Trevali Mining Corp is a zinc-focused base metals mining firm. The company currently operates in Canada and Peru, according to its website.