Trevali Mining Acquires Maple Minerals

Trevali Mining (TSX:TV,OTCQX:TREVF,FWB:4TI) completed the acquisition of Maple Minerals Corporation, a private New Brunswick incorporated company that owns the Caribou mill and mine complex located in the Bathurst Mining Camp of northern New Brunswick.

As quoted in the press release:

Pursuant to the terms of a combination agreement dated May 14, 2012, a wholly-owned subsidiary of Trevali, Trevali Mining (New Brunswick) Ltd., and Maple have amalgamated in a three cornered amalgamation with Trevali, and Trevali has issued to the former shareholders of Maple 20,000,010 common shares of Trevali and 3,999,986 common share purchase warrants with each warrant exercisable at $2.00 per share for one year following the closing date (“Closing”) of the Transaction. Based on the closing price of Trevali on the Toronto Stock Exchange (“TSX”) on November 2, 2012, the Transaction implies an acquisition price of approximately $22 million for Maple. Trevali shares issued under the Transaction are subject to a lock-up agreement and the former principal shareholders of Maple receiving Trevali shares are also subject to voting support and stand-still agreements (see Transaction Details).

Trevali President and CEO Dr. Mark Cruise said:

We are extremely pleased to complete the acquisition of this highly strategic asset as we continue to consolidate our position within the Bathurst Mining Camp. The modern Caribou Mill provides Trevali with a cost-effective, fast-track milling solution for our New Brunswick operating unit, and it positions the Company to maximize shareholder value in light of anticipated near-term global zinc deficits.

Click here to read the Trevali Mining (TSX:TV,OTCQX:TREVF,FWB:4TI) press release

Click here to see the Trevali Mining (TSX:TV,OTCQX:TREVF,FWB:4TI) profile