NOTICE OF PROPOSED SETTLEMENT
A proposed class action settlement has been reached between the parties in these proceedings, which is at this time subject to approval of the Court. Important information regarding the proposed settlement may be found in the following documents:
- Short Form Notice of Proposed Settlement (English) (French)
- Long Form Notice of Proposed Settlement (English) (French)
- Settlement Agreement (English)
- Plan of Allocation (aka Distribution Protocol) (English) (French)
- Opt Out Form (English) (French)
Updates:
March 24, 2025: A proposed settlement has been reached in this matter, which remains subject to approval of the Court. A formal notice that has been approved by the Court will be issued in the near future, which will outline the next steps. A copy of Court’s order with respect to the preliminary approval of the proposed Settlement is available HERE; a copy of the Settlement Agreement is available HERE; a copy of the proposed Distribution Protocol (aka Plan of Allocation) is available HERE, and a copy of the affidavit that outlines the circumstances leading to the proposed settlement and the rationale for the settlement is available HERE. The Court will hear an application for the final approval of the settlement on June 6, 2025.
May 2, 2024: Supreme Court of British Columbia has issued an order directing that the shareholders' claims submitted as part of the company’s CCAA proceedings be addressed in the first instance by way of a mediation. The parties accordingly intend to hold a mediation by no later than December 15, 2024. A copy of the Court’s order is available HERE.
April 20, 2023: The Ad Hoc Committee of Shareholders, in its capacity as Court-appointed Shareholder Representatives, has submitted a claims package to the Monitor on behalf of the Securities Claimants.
March 29, 2023: The Supreme Court of British Columbia appointed the Ad Hoc Committee of Trevali Shareholders the Shareholder Representatives on behalf of the Security Claimants defined as:
All persons and entities, wherever they may reside or may be domiciled, who purchased or otherwise acquired the common shares of Trevali in the primary market and/or in the secondary market during the the period from October 9, 2020 through to August 15, 2022, and held some or all of such common shares as of the close of trading on April 14, 2022 and/or August 15, 2022, except certain excluded persons.
KND Complex Litigation has been appointed as Shareholder Representative Counsel.
For further information, please refer to the Court Order HERE and Notice HERE.
October 11, 2022: KND has commenced a proposed securities class proceeding on behalf of a class of shareholders of Trevali Mining Corporation defined as follows:
All persons and entities, wherever they may reside or may be domiciled, who purchased or otherwise acquired the common shares of Trevali in the primary market and/or in the secondary market during the period from October 9, 2020 through to August 15, 2022, and held some or all of such common shares as of the close of trading on April 14, 2022 and/or August 15, 2022, except the Excluded Persons.
Summary
KND Complex Litigation represents an Ad Hoc Committee of Trevali’s Shareholders in the proceedings commenced pursuant to the Companies’ Creditors Arrangement Act in the Supreme Court of British Columbia (“CCAA Proceedings”).
Information concerning the CCAA Proceedings is available on the website of the Court-appointed Monitor, FTI Consulting at http://cfcanada.fticonsulting.com/trevali/.
Questions and inquiries may be directed to investors’ counsel by email at [email protected].