NEW BRUNSWICK – The $20 million bought deal announced yesterday by Vancouver’s Trevali Mining Corp. has been increased to $30 million. Dundee Securities on behalf of a syndicate of underwriters has agreed to purchase 30 million common shares of Trevali at a price of $1.02 per share. The underwriters have also been granted a 15% over-allotment.
Trevali plans to use the net proceeds of the offering to pick up the pace of the ramp-up at its Caribou zinc mine and mill in the Bathurst Mining Camp. The company announced earlier this week that commissioning of the mill has begun (see CMJ Daily Headline News for May 19, 2015).