Trevali Receives Court Approval for Sales and Investment Solicitation Process; Announcement of organizational departures
VANCOUVER, BC, September 16, 2022 /CNW/ – Trevali Mining Company (“Trevali” or the “Company”) announced that the Supreme Court of British Columbia (the “Court”), at the request of the Company and its wholly-owned subsidiary Trevali Mining (New Brunswick) Ltd. (“Trevali NB” and, together with Trevali Corp., “Trevali”), has granted an order relating to the sales and investment solicitation process (the “SISP Order”).
The SISP Order, among other things: (i) approves a sale and investment solicitation process for Trevali’s 90% interest in the Rosh Pinah Mine and 100% interest in the Caribou Mine (the “SISP” ); and (ii) approve an engagement letter between Trevali and National Bank Financial Inc. (“NBF”) appointing NBF as Trevali’s sales agent for the purposes of the SISP.
In order to participate in the SISP and to have access to a virtual data room, all interested parties must comply with the terms and conditions set forth in the SISP Order and other related documents, which are available on the Monitor’s website at http ://cfcanada.fticonsulting.com/trevali/. Parties interested in participating in the SISP should contact Morten Eisenhardt and Andre Armstrong to NBF at the following email addresses: [email protected] and [email protected]
Trevali also announced that Ricus Grimbeek has resigned as President and Chief Executive Officer and a director of the Company. Mr. Grimbeek joined Trevali as President and CEO in April 2019 and was appointed to the Board of Directors in March 2020. With the SISP order obtained and the sale process underway for the Company’s interests in the Rosh Pinah and Caribou mines, the Board and Mr. Grimbeek determined that it was time for him to step down from Trevali.
In addition, Derek du Preez has resigned as Chief Operating Officer of the Company, effective October 14, 2022. Mr. du Preez joined Trevali in July 2019 and has held several roles since then. Mr. du Preez will remain with the Company until October 14, 2022 to support a transition of operational, technical and other aspects of the business, as well as the initial phase of the SISP.
Dan Isserow resigned as a director of the Company. Mr. Isserow was first appointed to the Board of Directors in October 2017 following the Company’s acquisition of the Perkoa and Rosh Pinah mines.
About Trevali Mining Corporation
Trevali is a global base metals mining company headquartered in Vancouver, Canada. The bulk of Trevali’s revenue comes from the production of zinc and lead concentrates. The Company has three main assets: the Perkoa mine, 90% owned in Burkina Fasothe Rosh Pinah mine, 90% owned Namibiaand the wholly-owned Caribou mine in the north New Brunswick, Canada. In addition, Trevali owns the Halfmile and Stratmat properties and the Restigouche deposit in New Brunswick, Canada. Trevali also holds a 44% effective interest in the Gergarub project in Namibia. Trevali is committed to socially responsible mining, working safely, ethically and with integrity.
For more details on Trevali, readers are referred to the Company’s website (www.trevali.com) and the Canadian regulatory filings on SEDAR at www.sedar.com
Caution Regarding Forward-Looking Information and Statements
This press release contains “forward-looking information” within the meaning of Canadian securities laws 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 the Company’s management as of the date the statement is made, and the Company undertakes no obligation to update any forward-looking statement, except as required by law. ‘required. In some cases, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “outlook”, “directions”, “budget”, “expected”, “estimates”, ” forecasts”, “intends”, “anticipates” or “believes”, or variations of these words and expressions or statements that certain actions, events or results “could”, “might”, “would”, “might” , “would be taken”, “occur” or “be achieved” or the negative form of these terms or comparable terminology. Forward-looking statements in this press release include, among others, statements regarding: the SISP and its outcome; and with respect to changes in senior management of the Company, including transition plans. Forward-looking statements relate to future events or future performance and reflect management’s expectations or beliefs regarding future events, including, but not limited to, statements regarding the outcome of the SISP and Derek’s continued involvement. du Preez in the transition of operations, techniques and other aspects of the business and the initial phase of the SISP. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that 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 forward-looking statements. – look at the statements. These factors include, among others, operating in foreign jurisdictions with the risk of changing government regulations; compliance with government regulations; compliance with environmental laws and regulations; maintaining a social license continues to operate; limitations inherent in our insurance coverage; dispute; and other risks of the mining industry, including, without limitation, the risks and uncertainties that are more fully described in the Company’s Annual Information Form, interim and annual audited consolidated financial statements and report management of such 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 the forward-looking statements, there may be other factors that cause the actions, events or results are not those intended, estimated or intended. Trevali does not guarantee 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.
SOURCE Trevali Mining Corporation
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