Revett Mining Company, Inc.
NYSE MKT : RVM
TSX : RVM

Revett Mining Company, Inc.

March 26, 2014 14:31 ET

Revett Completes Private Placement

SPOKANE VALLEY, WASHINGTON--(Marketwired - March 26, 2014) - Revett Mining Company, Inc. (NYSE MKT:RVM)(TSX:RVM) ("Revett" or the "Company") announced today that it has completed the first tranche of a private placement of up to 4,129,100 units at a price of US$ 0.78 per unit for gross proceeds of U.S.$ 3.4 million. Each unit consists of one share of common stock and one-half of a common stock purchase warrant with an exercise price US$ 1.00 per full warrant exercisable within 24 months. Revett will use the proceeds of the offering to fund ongoing development at its Troy mine and to advance permitting of its Rock Creek project in northwestern Montana.

The first tranche, for 2,307,690 units, and gross proceeds of US$ $ 1.8 million, closed on March 26th. Subscribers included John Shanahan, President and CEO (128,205 units), and Tim Lindsey, Chairman (320,512 units). In addition to the Company's directors and executive officers, Urion Mining International B.V. (an affiliate of Trafigura AG, which purchases our silver and copper concentrates) purchased 320,512 units in order to maintain approximately 10% equity ownership in the Company. The second tranche, for an additional 2,091,410 units and proceeds of approximately US$ 1.6 million, is expected to close on or before March 31st, pending regulatory and exchange approval. With the closing of the first and expected closing of the second tranche, Revett expects to have 39,017,989 shares of common stock outstanding.

The Company's 2013 year end consolidated financial results are expected be released on Thursday, March 27, 2014. The Company has scheduled a conference call to discuss its 2013 year end results on Friday, March 28, 2014 at 11:30am (EDT). To participate in the call, North American callers can call 1-888-231-8191 and International callers can call (647) 427-7450. Please dial in to the call approximately five to ten minutes prior to the scheduled start time of the call. The conference call and all questions and answers will be recorded and made available until April 11, 2014. To listen to the recording, call toll free (855) 859-2056 or (416) 849-0833 and enter the access code 20019851.

About Revett

Revett, through its subsidiaries, owns and operates the Troy Mine in Lincoln County, Montana and the development-stage Rock Creek project located in Sanders County, Montana, USA. Its goal is to resume commercial production of the proven reserves at the Troy Mine and develop the significant resources at the Rock Creek project, and thereby become a premier mid-tier base and precious metals producer.

Except for the statements of historical fact contained herein, the information presented in this news release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities legislation. Generally, these forward looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "is not expected", "budget", "schedule", "estimates", "forecasts", "intends", "anticipates", "or does not anticipate" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business and economic uncertainties, risks and contingencies and those factors discussed in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K and in other periodic reports filed with the Securities and Exchange Commission under the Securities Exchance Act of 1934. Copies of these reports are available on the SEC's EDGAR website at www.sec.gov and in Canada on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • Revett Mining Company, Inc.
    Monique Hayes
    Corporate Secretary / Director of Investor Relations
    (509) 921-2294
    (509) 891-890 (FAX)
    www.revettmining.com