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Trevali Mining Corporation (TSX:TV,OTCQX:TREVF,FWB:4TI) has entered into a $10-million bridge-loan credit facility agreement with Sprott Resource Lending Partnership to support ongoing underground development of the Halfmile Mine and upgrades/reactivation of the Caribou Mill facility (subject to the formal closing of Trevali’s planned acquisition of Maple Minerals Corp.) in New Brunswick, and for general working capital purposes.
Trevali Mining Corporation (TSX:TV,OTCQX:TREVF,FWB:4TI) has entered into a $10-million bridge-loan credit facility agreement with Sprott Resource Lending Partnership to support ongoing underground development of the Halfmile Mine and upgrades/reactivation of the Caribou Mill facility (subject to the formal closing of Trevali’s planned acquisition of Maple Minerals Corp.) in New Brunswick, and for general working capital purposes.
As quoted in the press release:
The facility is for a principal amount of $10 million at an interest rate 11 per cent per annum, compounded and payable monthly, and due and payable in full on or before August 31, 2013. In consideration of the facility, Trevali has made a share bonus payment of $250,000, being 2.5 per cent of the principal amount of the facility, payable in 329,472 common shares of the Company priced at $0.759 per share (a 10 per cent discount to the 5-day volume weighted average trading price immediately prior to the date of the term sheet signed in connection with the facility). The bonus shares will be subject to a hold period of four months and one day from today’s date. A structuring fee in the amount of $100,000 has also been paid to Sprott.
Click here to read the Trevali Mining (TSX:TV,OTCQX:TREVF,FWB:4TI) press release
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