VANCOUVER, BC, March 29,
2023 /PRNewswire/ - Trevali Mining
Corporation ("Trevali" or the "Company") announced today
that, on application by the Company, the Supreme Court of
British Columbia has approved a
Claims Process Order (the "Order") as part of the Company's ongoing
Companies' Creditors Arrangement Act ("CCAA") proceedings.
The Order provides for a "Claims Process" pursuant to which the
court-appointed Monitor, FTI Consulting Canada Inc. (the "Monitor")
and the Company will call for and adjudicate, as necessary, all
claims against the Company and its wholly owned subsidiary, Trevali
Mining (New Brunswick) Ltd.
("Trevali NB", together with the Company, "Trevali"), as well as
their respective directors and officers.
Known creditors with respect to whom the Company and the Monitor
have sufficient information to make a reasonable assessment of
their claim will be sent a "Claims Notice" setting out the amount
and status of their claim. Creditors who receive a Claims Notice do
not need to take any further action if they do not wish to dispute
the amount or status of their claim as set out in the Claims
Notice.
Creditors who receive a Claims Notice but wish to dispute the
amount and status of their claim must submit a "Proof of Claim
Form" to the Monitor.
All other creditors who wish to assert a claim must submit a
"Proof of Claim Form" to assert a claim against Trevali or a
"Director/ Officer Claim Form" to assert a claim against Trevali's
directors and officers.
Copies of all Claims Process forms will be available on the
Monitor's website at http://cfcanada.fticonsulting.com/trevali/
(the "Monitor's Website").
With the exception of "Restructuring Claims", all Proof of Claim
Forms and Director/Officer Claim Forms must be received by the
Monitor by no later than 4:00 p.m.
(PST) on the "Claims Bar Date" of April 21, 2023. All Proof of Claim
Forms with respect to Restructuring Claims must be received by the
"Restructuring Claims Bar Date", which is the later of: (a) the
Claims Bar Date; and (b) 4:00 p.m. on
the day that is fifteen calendar days after the date that an
applicable Notice of Disclaimer or Resiliation is sent to a
creditor. Any claims not received by the Claims Bar Date or the
Restructuring Claims Bar Date, as applicable, will be forever
barred and extinguished.
All claims submitted to the Monitor will be subject to the
Claims Process as set out in the Order.
All inquiries regarding Claims Process and Trevali's CCAA
proceedings should be directed to the Monitor (email:
Trevali@fticonsulting.com or telephone: +1-877-294-8998).
Information about the Company's CCAA proceedings, including all
court orders, are available on the Monitor's Website.
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 statements are published, and the
Company assumes no obligation to update any forward-looking
statement, except as required by law. In certain cases,
forward-looking statements can be identified by the use of words
such as "plans", "expects", "outlook", "guidance", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might", "will be taken", "occur" or "be achieved" or the negative
of these terms or comparable terminology. 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 with respect to
the CCAA proceedings and creditor protection, the claims process
and the restructuring process, including the outcome thereof. 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, 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; 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.
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SOURCE Trevali Mining Corporation