The Glencore unit will by means of non-brokered private placement receive 12,620,282 common shares in the capital of Trevali Mining at C$1.42 ($1.4263) per share.
The company plans to utilize the funds rapidly the company’s Santander Mine project in Peru and to provide working capital facilities for the new Halfmile Mine in New Brunswick, Canada that is presently under production ramp-up.
The private placement which is subject to customary closing conditions and the approval of the Toronto Stock Exchange.
