Trevali Provides Update on Judicial Liquidation of 90%-Owned Burkina Faso Subsidiary; No Filing of Financial Statements or Related Management Disclosure and Analysis Going Forward

Trevali Mining Corporation ("Trevali" or the "Company") announced today that, further to the October 6, 2022 press release of the Company, the Judicial Tribunal of Commerce in Burkina Faso has granted an order providing for the liquidation of the Company's 90%-owned subsidiary Nantou Mining Burkina Faso S.A. ("Nantou Mining"). A liquidator has been appointed by the Judicial Tribunal and notice of such appointment is expected to be published in local newspapers in accordance with applicable laws and the terms of the liquidation order. The liquidator has assumed responsibility for the management of the affairs of Nantou Mining and Trevali no longer exercises operational control over Nantou Mining or the Perkoa mine. Further information will be communicated to affected parties by the liquidator in accordance with applicable legislation.

Trevali Mining Corporation Logo (CNW Group/Trevali Mining Corporation)

No Filing of Financial Statements or Related Management Disclosure and Analysis Going Forward

Trevali also announced that it did not, and will not, file its interim financial statements for the three and nine months ended September 30, 2022 , the related management's discussion and analysis, and the related CEO and CFO certifications by the filing deadline of November 14, 2022 and is therefore in default of its requirements under National Instrument 51-102 – Continuous Disclosure Obligations and National Instrument 52-109 – Certification of Disclosure in Issuer's Annual and Interim Filings , as applicable.

The Company had previously advised the British Columbia Securities Commission, as well as FTI Consulting Inc., the court-appointed monitor in Trevali's proceedings under the Companies' Creditors Arrangement Act ("CCAA"), that due to financial and operational constraints, the Company will not be able to continue with its prescribed public markets disclosure going forward. Trevali and the Monitor intend to keep stakeholders and the public updated about Trevali's financial status through filings and other reports filed as part of the CCAA proceedings.

All inquiries regarding the CCAA proceedings of the Company should be directed to the court-appointed monitor, FTI Consulting Inc. (email: Trevali@fticonsulting.com or telephone: +1-877-294-8998). Information about the Company's CCAA proceedings, including all court orders made and the Monitor's reports, are available on the Monitor's website at https://cfcanada.fticonsulting.com/trevali/ .

About Trevali Mining Corporation

Trevali is a base-metals mining company headquartered in Vancouver, Canada . For further details on Trevali, readers are referred to the Company's website ( www.trevali.com ) and to Canadian regulatory filings on SEDAR at www.sedar.com .

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). Forward-looking statements are based on the beliefs, expectations and opinions of management of the Company as of the date the statement are published, and the Company assumes no obligation to update any forward-looking statement, except as required by law. Forward-looking statements in this news release include, among others, statements with respect to the judicial liquidation process in Burkina Faso , including the conduct of such liquidation proceeding; and the CCAA proceedings of the Company, including the provision of financial and other information with respect to the Company during such proceeding.

By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the judicial liquidation by Nantou Mining and the loss of operational control of the Perkoa mine by the Company; operating in foreign jurisdictions with risk of changes to governmental regulation; compliance with governmental regulations; compliance with environmental laws and regulations; maintaining ongoing social license to operate; limitations inherent in our insurance coverage; litigation; risks associated with the Company's ongoing CCAA proceedings; and other risks of the mining industry including, without limitation, risks and uncertainties that are more fully described in the Company's annual information form, interim and annual audited consolidated financial statements and management's discussion and analysis of those statements, all of which are filed and available for review under the Company's profile on SEDAR at www.sedar.com . Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Trevali provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events may differ from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/trevali-provides-update-on-judicial-liquidation-of-90-owned-burkina-faso-subsidiary-no-filing-of-financial-statements-or-related-management-disclosure-and-analysis-going-forward-301677582.html

SOURCE Trevali Mining Corporation

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/November2022/14/c1689.html

News Provided by Canada Newswire via QuoteMedia

TV:CA,TREVF
The Conversation (0)
FWB:4TI

Trevali to Release Third Quarter Results on November 5, 2019

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL:TV, OTCQX:TREVF, Frankfurt:4TI) announces that the operating and financial results for the third quarter ended September 30, 2019, will be released on Tuesday, November 5, 2019 after the Toronto Stock Exchange market close.

Q3-2019 Results Conference Call

Keep reading...Show less
FWB:4TI

Trevali Establishes Automatic Share Purchase Plan

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL:TV; OTCQX:TREVF, Frankfurt:4TI) today announced that, in connection with its previously announced normal course issuer bid (“NCIB”) to purchase up to 40,000,000 of its common shares (“Common Shares”), it has entered into an automatic share purchase plan (“ASPP”) with its designated broker. The ASPP is intended to allow for the purchase of Common Shares under the NCIB at times when Trevali would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.

Pursuant to the ASPP, before entering into a blackout period, the Company may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by Trevali in accordance with the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and implemented as of September 20, 2019, and will terminate on the earliest of the date on which: (i) the purchase limit under the NCIB has been reached; (ii) the NCIB expires; and (iii) the Company terminates the ASPP in accordance with its terms.

Keep reading...Show less
OTCQX:TREVF

Trevali announces Annual General Meeting results

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL:TV; OTCQX:TREVF, Frankfurt:4TI) announced the voting results from its Annual and Special Meeting of Shareholders (the “Meeting”) held on July 31, 2019 in Vancouver, British Columbia. Shareholders voted in favour of all items of business before the Meeting as follows:

Keep reading...Show less
Zinc Investing

Trevali to Release Second Quarter Results on July 31, 2019

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL:TV) announces that the operating and financial results for the second quarter ended June 30, 2019, will be released on Wednesday, July 31, 2019 after the Toronto Stock Exchange market close.

The Company will host a conference call and presentation webcast at 11:00AM Eastern Time on Thursday, August 1, 2019 to review the operating and financial results. Participants are advised to dial in five minutes prior to the scheduled start time of the call. A presentation will be made available on the Company’s website prior to the conference call.

Keep reading...Show less
Zinc Investing

Trevali Releases its Inaugural Sustainability Report

Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV, BVL: TV) announced today that it has issued its inaugural Sustainability Report, which is available at www.trevali.com.

“This report is our first step towards becoming more transparent in how we manage the elements of sustainability,” said Ricus Grimbeek, President and CEO. “We will keep improving the quality of our data and management practices and build on the good progress we have made so far. The future of mining requires meeting higher sustainability standards and is an essential part of Trevali’s objective to become an industry leader in sustainability and one of the best underground mining companies in the world.”

Keep reading...Show less
Group Eleven Resources (TSXV:ZNG)

Group Eleven Resources


Keep reading...Show less
Group Eleven Announces Exercise of Warrants and Expanded Drill Program at Ballywire

Group Eleven Announces Exercise of Warrants and Expanded Drill Program at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that it has received $749,438 from recent warrant exercises and that it has expanded the ongoing drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire") on the PG West Project ("PG West"), Republic of Ireland. All currency in this news release is denominated in Canadian dollars.

Since its announcement on August 28, 2024 stating that Group Eleven received $800,562 from the early exercise of 6,671,349 warrants (originally issued as part of a private placement which closed on July 30, 2020) each with an exercise price of $0.12 and expiring October 28, 2024 (the "Warrants"), the Company reports that it has since received a further $749,438 from the exercise of all remaining 6,245,318 Warrants. In total, the Company received proceeds of $1,550,000 from the exercise of 12,916,667 Warrants in 2024.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Group Eleven Intersects 11.8m of 11.6% Zn+Pb and 48 g/t Ag; Identifies Emerging Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Intersects 11.8m of 11.6% Zn+Pb and 48 g/t Ag; Identifies Emerging Zinc-Rich Massive Sulphide Zone at Ballywire

Group Eleven Resources Corp. (TSXV: ZNG) (OTCBB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from a recent step-out hole of the 2024 drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Group Eleven Welcomes Gatlin Smeijers to the Board of Directors

Group Eleven Welcomes Gatlin Smeijers to the Board of Directors

Group Eleven Resources Corp. (TSXV: ZNG) (OTCBB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce that Gatlin Smeijers has been appointed to the Board of Directors. Mr. Smeijers has been nominated by Glencore Canada Corporation (which owns 17.6% of the Company) and will replace Ken Klassen, who has stepped down from the Board. The Company would like to thank Mr. Klassen for his valuable insights and guidance over the past four years.

Bart Jaworski, CEO of Group Eleven, commented: "We are delighted to welcome Gatlin to the team and look forward to working with him to further grow shareholder value. Gatlin is an experienced and well-respected lawyer in the international and Canadian mining industries, with experience not only in regulatory and corporate law, but also in geological engineering."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Group Eleven Cuts 108.5m of Mineralization in Large  Step-Out at Ballywire, Incl. 5.6m of 13% Zn+Pb, 116 g/t Ag; 4.2m of 15% Zn+Pb, 34 g/t Ag; and 4.9m of 10% Zn+Pb, 39 g/t Ag

Group Eleven Cuts 108.5m of Mineralization in Large Step-Out at Ballywire, Incl. 5.6m of 13% Zn+Pb, 116 g/t Ag; 4.2m of 15% Zn+Pb, 34 g/t Ag; and 4.9m of 10% Zn+Pb, 39 g/t Ag

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from the five most recent step-out holes of the 2024 drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlight Intersections

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×