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Trevali Announces TSX Acceptance of Normal Course Issuer Bid

by pmnationtalk on November 15, 2018155 Views

VANCOUVER, British Columbia, Nov. 15, 2018 — Trevali Mining Corporation (“Trevali” or the “Company”) (TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) announces that the Toronto Stock Exchange (“TSX”) has accepted its notice to implement a normal course issuer bid (“NCIB”) to purchase, for cancellation, up to 40,000,000 common shares representing approximately 6.5% of Trevali’s “public float” of common shares (calculated in accordance with the rules of the TSX), having a maximum aggregate purchase price of C$20 million, over a twelve month period commencing on November 19, 2018. The NCIB will expire no later than November 18, 2019.

All purchases made pursuant to the NCIB will be made through the facilities of the TSX or alternative Canadian trading systems, in open market transactions or by such other means as may be permitted under applicable securities laws. The price that Trevali will pay for common shares in open market transactions will be the market price at the time of purchase.

In accordance with TSX rules, any daily purchases (other than pursuant to a block purchase exemption) on the TSX under the NCIB are limited to a maximum of 547,457 common shares, which represents 25% of the average daily trading volume on the TSX for the six months ended October 31, 2018. As of November 14, 2018, the Company has 831,196,085 common shares outstanding.

Trevali has appointed BMO Nesbitt Burns Inc. to conduct the NCIB on its behalf. Trevali may enter into an automatic purchase plan with its broker to allow for the repurchase of shares during internal trading blackout periods. Any such plan entered into with Trevali’s broker will be adopted in accordance with applicable Canadian securities laws and would be subject to prior approval of the TSX.

Trevali believes that initiating the NCIB at the current time represents an attractive use of cash, with now an opportune time to return cash to shareholders. The actual number of common shares that will be repurchased under the NCIB, and the timing of any such purchases, will be determined by Trevali based on market conditions, Trevali’s share price, alternative uses of cash and other factors. There cannot be any assurances as to how many common shares, if any, will ultimately be acquired by Trevali under the NCIB.

ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused, base metals company with four mines: the 90% owned Perkoa mine in Burkina Faso, the 90% owned Rosh Pinah mine in Namibia, the wholly-owned Caribou mine in the Bathurst Mining Camp of northern New Brunswick in Canada, and the wholly-owned Santander mine in Peru.

The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company’s website (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of
TREVALI MINING CORPORATION
“Mark D. Cruise” (signed)
Mark D. Cruise, President

Contact Information:
Steve Stakiw, Vice President – Investor Relations and Corporate Communications
Email: sstakiw@trevali.com
Phone: (604) 488-1661 / Direct: (604) 638-5623

NT4

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