Trevali to delist from TSX
Financially troubled Trevali Mining will be delisted from the TSX on October 3.
Trading in Trevali’s shares has been suspended since August 22, when the company filed for protection under the Companies' Creditors Arrangement Act and this suspension will continue until the delisting takes effect.
In addition to the TSX delisting, the company expects its common shares will also be delisted in due course from the other exchanges on which the common shares currently trade.
Trevali says shareholders retain their legal rights and equity interest and are advised to contact their brokerage where shares are held regarding retention policies for unlisted shareholdings and potential for shares to trade in over-the-counter markets.
The zinc miner in August week defaulted on a $7.5-million debt payment, having suffered several setbacks lately, including a flooding event that shuttered its Perkoa mine, in Burkina Faso, and low productivity rates and equipment availability at Caribou, in Canada. Trevali has placed the Cariboo mine, in Canada, under care and maintenance and halted the expansion of its Rosh Pinah mine, in Namibia.
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