Trevali Mining Corporation (TSX:TV,OTCQX:TREVF,FWB:4TI) has priced 52,500 units consisting of 12.5% Senior Secured Notes due May 30, 2019 and Common Share purchase warrants at a price of C$980 per Unit. Each Unit will consist of C$1,000 principal amount of Notes and 123.2 Warrants for aggregate proceeds of C$51,450,000.
As quoted in the press release:
Each whole Warrant shall entitle the holder thereof, subject to certain conditions, to purchase one Common Share (a “Warrant Share”) at an exercise price of $1.26. The Warrants will expire on May 30, 2019.
Trevali expects to close the offering of the Units on May 30, 2014, subject to the satisfaction of customary closing conditions.