Trilogy Metals Announces Closing of Private Placement
Summary
VANCOUVER, BC, April 25, 2023 /PRNewswire/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or the "Company") is pleased to announce the closing of the previously announced non-brokered private placement of 5,854,545 common shares of the Company (the "Common Shares") at a price of US$0.55 per Common Share for gross proceeds of US$3.22 million (the "Private Placement").The Private Placement was led by the Companys two largest shareholders. In addition to Electrum and South32, Tony Giardini, the Companys President and Chief Executive Officer participated in the Private Placement. On December 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. Important factors that could cause actual results to differ materially from the Companys expectations include the ability to complete the Private Placement, receipt of regulatory approvals and other risks and uncertainties disclosed in the Companys Annual Report on Form 10-K for the year ended November 30, 2022 filed with Canadian securities regulatory authorities and with the United States Securities and Exchange Commission and in other Company reports and documents filed with applicable securities regulatory authorities from time to time. The Company assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.