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Trevali Mining Corporation (TSX:TV,OTCQX:TREVF,LMA:TV,FWB:4TI) closed its private placement for gross proceeds of $5,000,000. 5,000,000 common shares were issued on a flow-through basis at a price of $1.00 per share.
Trevali Mining Corporation (TSX:TV,OTCQX:TREVF,LMA:TV,FWB:4TI) closed its private placement for gross proceeds of $5,000,000. 5,000,000 common shares were issued on a flow-through basis at a price of $1.00 per share.
As quoted in the press release:
The Company will incur Canadian exploration and development expenses (as defined in the Income Tax Act (Canada)) in an amount equal to the gross proceeds raised from the Flow-through Shares no later than December 31, 2014 and will renounce such expenses effective December 31, 2013 and such expenses will qualify as “flow-through mining expenditures” within the meaning of the Income Tax Act (Canada).
Click here to read the Trevali Mining Corporation (TSX:TV,OTCQX:TREVF,LMA:TV,FWB:4TI) press release
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