August 26, 2009 (FinancialWire) — Revett Minerals Inc., Spokane Valley, Washington (TSX: RVM) (OTCBB: RVMIF) said it has signed an agreement with Trafigura AG to restructure a $4.3 million interest bearing note.

Under the terms of the deal, $1 million in principal will be converted to equity through the issuance of 8.3 million common shares of Revett Minerals at a price of $.12 per share.

Of the principal remaining, a schedule of semi-annual repayments shall begin with the first payment due no later than December 31, and the final balance to be paid no later than June 30, 2012.

Revett Minerals retains the right to prepay the note is whole or part at any time outside the repayment schedule with 10 business days written notice. The company is also granting detachable warrants giving Trafigura the right to purchase as much as 10 million shares of the common stock of Revett at a strike price of $.20.

Spokane Valley, Washington-based Revett Minerals owns and operates the Troy Mine and development-stage Rock Creek Project, both located in northwestern Montana.

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