Trevali Proving Zinc Is Golden


Additional Disclosures:

Paradigm Capital, Trevali Mining Corp., March 13, 2017

1. The analyst has an ownership position in the subject company. No.

2. Paradigm Capital Inc. has assumed an underwriting liability for, and/or provided financial advice for consideration to the subject companies during the past 12 months. Yes.

3. Paradigm Capital Inc. expects to receive or intends to seek compensation for investment banking services from the subject companies in the next 3 months. Yes.

4. Paradigm Capital Inc. has greater than a 1% ownership position in the subject company. No.

5. The analyst has a family relationship with an Officer/Director of subject company. No.

The analyst (and associate) certify that the views expressed in this report accurately reflect their personal views about the subject securities or issuers. No part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendations expressed in this research report.

Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is determined by revenues generated directly or indirectly from various departments including Investment Banking, based on a system that includes the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and investment guidance and client feedback. Analysts are not directly compensated for specific Investment Banking transactions.

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Cormark Securities Inc., Trevali Mining, March 13, 2017

I, Stefan Ioannou, hereby certify that the views expressed in this research report accurately reflect my personal views about the subject company(ies) and its (their) securities. I also certify that I have not been, and will not be receiving direct or indirect compensation in exchange for expressing the specific recommendation(s) in this report.

Click here for Cormark disclosures on Trevali Mining.