Trevali Closes $3.76-Million Private Placement Financing

Trevali Resources Corp. (FRA:4TI) announce that it has completed the non-brokered private placement financing announced August 25, 2010 issuing 3,582,144 units at $1.05 per unit, including an overallotment of 7,144 units at $1.05 per unit, for total gross proceeds of $3,761,251.20.

The press release is quoted as saying:

The Company in conjunction with its prospective partner, Glencore International A.G., (“Glencore”) is continuing to work through the terms of a definitive development agreement for the Santander silver-lead-zinc project in west-central Peru that will, if concluded, see Glencore provide and operate on the property, a 2,000-tonne-per-day concentrate plant, undertake mining operations on a ‘contractor/toll basis’ and enter into a long-term concentrate offtake agreement with the Company for 100% of the Santander project’s production at benchmark terms.

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