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VANCOUVER, BC, Oct. 12, 2022 /CNW/ – Trevali Mining Corporation (“Trevali Corp.” or the “Company”) announced that the Supreme Court of British Columbia (the “Court”), on application of the Company as well as its wholly owned subsidiary Trevali Mining (New Brunswick) Ltd. (“Trevali NB” and, together with Trevali Corp., “Trevali”), made in Trevali’s ongoing Companies’ Creditors Arrangement Act (Canada) (“CCAA”) proceedings has conditionally authorized and empowered the Company to obtain and borrow up to the maximum principal amount of US$16.5 million pursuant to an interim financing tranche (the “DIP Tranche”) to be made available to Trevali Corp. pursuant to the terms of an amendment (the “Fifth Amendment”) to the existing credit facility extended to the Company under the Second Amended and Restated Credit Agreement dated August 6, 2020 (the “Credit Agreement”) between the Company, as borrower, the Bank of Nova Scotiaas administrative agent (the “Administrative Agent”), and lenders party there (the “Interim Lenders”). The DIP Tranche shall be on the terms and be subject to the conditions set forth in the Credit Agreement as amended by the Fifth Amendment on the terms agreed to between Trevali and the Administrative Agent. The Approval of the DIP Tranche is conditional upon the execution by the Company (with the consent of the FTI Consulting Canada Inc. (the “Monitor”)), the Administrative Agent and the Interim Lenders of the Fifth Amendment on the terms agreed to between Trevali and the Administrative Agent.
Full story available on Benzinga.com
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