Short answer:
If you owned Trevali MiningâŻCorporation (TSX:âŻTVL) securities at any timeâŻââŻincluding shares, warrants, convertible debentures, or other equityâlinked instrumentsâŻââŻbetween OctoberâŻ9âŻ2020 and AugustâŻ15âŻ2022 (inclusive), you should treat the Supreme Court of British Columbiaâs settlement approval as a âcallâtoâactionâ rather than a âwaitâandâseeâ event. The most prudent immediate steps are:
- Confirm you are in the covered class.
- Collect the paperwork youâll need to prove ownership.
- Read the official settlement notice (and any related FAQs).
- File a claim (or otherwise respond) by the deadline the notice sets.
- Seek professional advice (legal, tax, and/or financial) to understand any potential payout, tax treatment, or impact on your portfolio.
Below is a stepâbyâstep guide that expands on each of those actions, explains why they matter, and highlights the typical pitfalls investors make in similar classâaction settlements.
1. Verify Whether You Are an Eligible Investor
| What to check | How to verify |
|---|---|
| Holding period â Did you own any Trevali securities any time between OctâŻ9âŻ2020âŻââŻAugâŻ15âŻ2022? | Review brokerage statements, trade confirmations, or custodial records for that window. Even a single day of ownership can make you eligible. |
| Type of security â Shares, warrants, convertible debentures, rights, or any instrument that could be converted into shares are usually covered. | Look for âTVLâ ticker, CUSIP/SEDOL numbers, or the corporate name in your account holdings. |
| Location â The settlement is administered under the Supreme Court of British Columbia, but it generally applies to any holder worldwide (unless the notice expressly limits it). | If you are a Canadian resident or hold the securities through a Canadian broker, youâre almost certainly covered. NonâCanadian holders should still read the notice for any jurisdictional carveâouts. |
Why it matters: Only members of the âclassâ can file a claim and receive any distribution. If you are not in the class, you are not required to take any action (and filing a claim could waste time or even jeopardize future rights).
2. Gather Supporting Documentation
You will most likely be asked to prove:
- Date(s) of ownership â Trade confirmations, monthly statements, or custodial reports showing you held the security on a qualifying date.
- Quantity held â The number of shares/warrants/etc. you owned (the settlement distribution is usually proportional to your holding).
- Identity verification â A governmentâissued ID, proof of address, and possibly a signature card if the settlement administrator requires a âclaimant verificationâ step.
Tips for quick collection
| Source | Typical turnaround |
|---|---|
| Brokerage portal â Download PDFs of statements for the relevant period. | Instant (if you have online access). |
| Brokerage customer service â Request a âhistorical holdings verification letter.â | 1â3âŻbusiness days (sometimes longer for older records). |
| Transfer agent â Some settlements ask you to contact the companyâs transfer agent directly. | 5â10âŻbusiness days (prepare for a short delay). |
Do NOT wait until the last minute; many classâaction settlements impose a hard filing deadline (often 30â60âŻdays from the public notice). Missing that deadline means you forfeit any entitlement.
3. Read the Official Settlement Materials in Full
The PRNewswire release is just a headline. The courtâapproved settlement notice, FAQs, and claim forms will contain the critical details:
| Information youâll find | Why it matters |
|---|---|
| Claim filing deadline (often a specific date, e.g., âclaims must be submitted byâŻOctoberâŻ31âŻ2025â). | Miss it and you lose any payout. |
| Method of filing â Online portal, mailed paper form, or via a thirdâparty claims administrator. | Using the wrong method can cause rejection. |
| Required documents â List of proofâofâownership, identification, and any âaffidavitâ statements. | Incomplete submissions are automatically denied. |
| Distribution mechanics â Cash payment, shareâbased settlement, or a combination. | Helps you anticipate tax consequences and cashâflow timing. |
| Contact information â Dedicated claims hotline or email address. | Faster resolution of any questions or errors. |
| Potential tax treatment â Whether the payment is considered a capital gain, dividend, or other income. | Allows you to plan tax filings and possibly request a taxâgrossâup. |
Action: Download the PDF(s) from the courtâs website (search âTrevali Mining Settlement Supreme Court of British Columbiaâ) or from the Trevali investorârelations page. Print or save them for reference while you prepare your claim.
4. File Your Claim (or Take the Appropriate FollowâUp)
A. Typical ClaimâFiling Workflow
- Register on the settlement administratorâs portal (if one exists).
- Enter claimant information â name, address, tax ID, brokerage details.
- Upload supporting documents â PDFs of statements, ID, and any required affidavits.
- Review and certify â Many portals require you to electronically sign a declaration that the information is true.
- Submit and receive a confirmation number.
If the settlement is handled via paper:
- Complete the claim form (often a 2âpage PDF).
- Attach photocopies (or certified copies) of the required documents.
- Mail to the address listed (prefer certified/registered mail).
- Keep a copy of everything you send, and note the tracking number.
B. What to Do If Youâre Unsure Whether to File
- Consult a securitiesâclassâaction attorney (many offer free initial consultations).
- Contact the settlement administrator for clarification; they can confirm eligibility without you having to submit a claim.
- Check for âoptâoutâ language â In rare cases a settlement may require you to optâout if you wish to preserve the right to sue individually. The notice will spell this out. If thatâs the case, you must act immediately to preserve your rights.
C. Keep an Eye on FollowâUp Communications
After you file, the administrator may:
- Request additional proof (e.g., a brokerâsigned âletter of verificationâ).
- Notify you of distribution dates (e.g., âPayments will be issued on DecâŻ15âŻ2025â).
- Provide a statement of entitlement showing exactly how much youâll receive.
Respond promptly to any such requests; otherwise, the administrator may deem your claim âincompleteâ and exclude it from the final payout.
5. Seek Professional Advice
| Issue | Who to consult | Why |
|---|---|---|
| Legal eligibility / rights | Securitiesâclassâaction attorney | To confirm you belong to the class and understand any potential âoptâoutâ or âreleaseâ consequences. |
| Tax implications | CPA or tax advisor | Settlement proceeds may be taxed as capital gains, ordinary income, or a return of capital. Proper reporting avoids penalties. |
| Portfolio impact | Financial advisor | If the settlement results in a cash payout, you may want to rebalance or reinvest. |
| Brokerageâspecific procedures | Your brokerâs clientâservices team | Some brokers handle claims on your behalf; they can expedite document retrieval. |
Tip: Many law firms that specialize in securities class actions will publish a free âclaimâeligibility calculatorâ on their website. While not a substitute for professional advice, it can give you a quick sanityâcheck before you invest time in the full claim.
6. What Not to Do
| Action | Why itâs risky |
|---|---|
| Sell all TVL shares immediately because you think the settlement will lower the price. | The settlement may actually be neutral or positive; a rushed sale could lock in an unnecessary loss. |
| Ignore the notice because you think the payout will be negligible. | Even a small perâshare amount can add up to a meaningful sum for large holders. |
| Submit false or incomplete documents to speed up the process. | Fraudulent claims are rejected, and could expose you to legal penalties. |
| Assume the settlement covers all possible claims. | Some settlements may only address a specific alleged wrongdoing; you might retain the right to pursue separate actions (e.g., for tax losses). |
7. Timeline Snapshot (Typical)
| Milestone | Approx. Date (based on a AugâŻ6âŻ2025 press release) |
|---|---|
| Public settlement notice | AugâŻ6âŻ2025 |
| Claim filing deadline | Usually 60âŻdays later â early OctâŻ2025 (check exact date). |
| Review of claims by administrator | OctâŻââŻNovâŻ2025 |
| Distribution of approved payments | DecâŻ2025âŻââŻFebâŻ2026 (varies). |
| Final court order / closure | MidâŻ2026 (for recordâkeeping). |
If the notice you receive lists different dates, follow those.
8. QuickâStart Checklist for the Investor
| â | Action |
|---|---|
| 1 | Locate the settlement notice (court website, Trevali IR page, or the email you received). |
| 2 | Confirm you held TVL securities between OctâŻ9âŻ2020âŻââŻAugâŻ15âŻ2022. |
| 3 | Gather statements for the relevant dates (download PDFs). |
| 4 | Read the FAQ to note the exact claim deadline and required documents. |
| 5 | Register on the claims portal (or download the paper form). |
| 6 | Complete the claim and upload/attach all required evidence. |
| 7 | Submit and keep the confirmation (email or tracking number). |
| 8 | Set a reminder for any followâup requests from the administrator. |
| 9 | Consult legal/tax advisors if anything is unclear. |
| 10 | Monitor your email/ mail for distribution notices and tax reporting information. |
Bottom Line
- Act promptly. The settlementâs court approval is a trigger for a limitedâtime claim process.
- Verify eligibility by checking your holding dates and security types.
- File a complete, documented claim before the deadline.
- Get professional counsel to avoid tax surprises and to ensure you preserve any other rights you may have.
By following the steps above, youâll maximize the chance of receiving any entitled distribution and avoid the common pitfalls that cause eligible investors to miss out on classâaction settlements.