Appian Natural Resources Fund III LP and Appian Natural Resources Fund III LP, are managed by Appian Capital Advisory LLP agreed acquire 89.96% stake in Rosh Pinah Mine in Namibia from Trevali Mining Corporation (OTCPK:TREV.Q).

Appian Natural Resources Fund III LP and Appian Natural Resources (UST) Fund III LP, are managed by Appian Capital Advisory LLP agreed to acquire 89.96% stake in Rosh Pinah Mine in Namibia from Trevali Mining Corporation (OTCPK:TREV.Q) on December 15, 2022. The closing of the Transaction is subject to the satisfaction or waiver of certain conditions precedent, including: receipt of an order approving the Agreement and Transaction from the Court; the approval of the Namibia Competition Commission under the Competition Act (2003) of Namibia; approval of the Ministry of Land Reform; exchange control approval from the Bank of Namibia; and other customary closing conditions. The Transaction is expected to close in first quarter of 2023.

National Bank Financial acted as financial advisor to the Trevali Mining in respect of the Transaction. As on December 21, 2022. Trevali obtained an approval and vesting order from the Court approving the Transaction at a hearing before the Court in the CCAA Proceedings of Trevali and Trevali Mining (New Brunswick) Ltd.