Trevali Mining Corporation (TSX:TV) announced that it has closed its previously announced “best efforts” marketed offering of 46,718,750 common shares of the Company, inclusive of 6,093,750 Shares issued pursuant to the exercise in full of the Agents’ over-allotment option at a price of $0.32 per Share for aggregate gross proceeds of $14,950,000.
Trevali intends to use the net proceeds of the Offering for ongoing commissioning and ramp-up expenditures at its Caribou Zinc Mine in New Brunswick, for working capital and general corporate purposes, as more particularly described in the Prospectus.
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