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Balmoral Resources

Trilogy Metals announces a New Large Shareholder and the Company's CEO Significantly Increases his Share Position

  • Financing
  • Alaska

TSX: TMQ
www.trilogymetals.com

Mr. Rick Van Nieuwenhuyse reports:

VANCOUVER, Dec. 19, 2017 /CNW/ - Trilogy Metals Inc. (TSX/NYSE American: TMQ) ("Trilogy Metals" or "the Company") announces that a wholly-owned subsidiary of South32 Limited (ASX/JSE/LSE: S32) ("South32") has become a new significant shareholder of the Company owning approximately 6.5 million common shares of the Company or approximately 6% of the outstanding common shares. Rick Van Nieuwenhuyse, the Company's Chief Executive Officer has also increased his shareholdings of Trilogy Metals by approximately 1.7 million shares, owning approximately 2.8 million common shares of the Company or approximately 2.6%. South32 and Mr. Van Nieuwenhuyse have purchased shares from a previous shareholder.

Concurrently, Trilogy Metals has given South32 participation rights in future financings to participate at a minimum of 20% to a maximum of 40% in future financings, private or public, to a maximum ownership of 19.9% in the Company. This right expires if South32 does not participate for the lesser of 20%, or that number of shares that would not put them past a 19.9% ownership interest in the Company, in any particular financing.

"We are excited to have South32 as a significant shareholder and joining our other large shareholders: Electrum, Paulson and Baupost. Together with our strong supportive shareholders the Company expects to advance development of the Arctic and Bornite projects in the Ambler mining district. It is an exciting time to be a Trilogy shareholder and I am pleased to personally be ALL-IN on Ambler!", comments Rick Van Nieuwenhuyse, President and CEO of Trilogy Metals.

About Trilogy Metals

Trilogy Metals Inc. is a metals exploration company focused on exploring and developing the Ambler mining district located in northwestern Alaska. It is one of the richest and most-prospective known copper-dominant districts located in one of the safest geopolitical jurisdictions in the world. It hosts world-class polymetallic VMS deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high grade copper mineralization. Exploration efforts have been focused on two deposits in the Ambler mining district - the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within the Company's land package that spans approximately 143,000 hectares. The Company has an agreement with NANA Regional Corporation, Inc., a Regional Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler mining district in cooperation with local communities. Our vision is to develop the Ambler mining district into a premier North American copper producer.

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Trilogy Metals

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Last Trade: C$2.81
Daily Change: 0.01 0.36
Daily Volume: 10,079
Market Cap: C$301.540M
February 11, 2019
Trilogy Metals Reports Year End Results and Outlook for 2019
February 06, 2019
Trilogy Metals Announces Increase in 2019 Exploration Budget at the Upper Kobuk Mineral Projects
January 31, 2019
Trilogy Metals Announces 2019 Program and Budgets for the Upper Kobuk Mineral Projects
December 13, 2018
Trilogy Metals Reports Final Drill Results from the Bornite Project
November 19, 2018
Trilogy Metals Reports Additional Drilling Results from the Bornite Project
October 09, 2018
Trilogy Metals Reports Drilling Results from the Bornite Project
October 05, 2018
Trilogy Metals Reports Third Quarter Fiscal 2018 Financial Results
August 23, 2018
Trilogy Metals Drills 16.4 metres of 5.3% Copper and 0.21% Cobalt and Provides Corporate and Project Updates
July 20, 2018
Trilogy Metals Files Technical Report for Cobalt Resource Estimate at the Bornite Project
July 16, 2018
Trilogy Metals Reports Second Quarter Fiscal 2018 Financial Results
June 05, 2018
Trilogy Metals Reports Maiden Inferred Cobalt Resource Estimate Containing 77 Million Pounds of Cobalt at the Bornite Project, Alaska, USA
May 31, 2018
Trilogy Metals Announces Additions to Senior Management Team
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