Trilogy Metals announces a New Large Shareholder and the Company’s CEO Significantly Increases his Share Position
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News Release
Trilogy Metals announces a New Large Shareholder and the
Company’s CEO Significantly Increases his Share Position
December 19, 2017 - Vancouver, British Columbia – 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.
Company Contacts
Rick Van Nieuwenhuyse Elaine Sanders
President & Chief Executive Officer Vice President & Chief Financial Officer
TSX, NYSE American
Symbol: TMQ
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604-638-8088 or 1-855-638-8088
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Cautionary Note Regarding Forward-Looking Statements
This press release includes certain "forward-looking information” and "forward-looking
statements” (collectively "forward-looking statements”) within the meaning of applicable
Canadian and United States securities legislation including the United States Private
Securities Litigation Reform Act of 1995. All statements, other than statements of historical
fact, included herein, including, without limitation, the development of the Arctic and
Bornite projects in the Ambler mining district, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as
"expects”, "anticipates”, "believes”, "intends”, "estimates”, "potential”, "possible”, and
similar expressions, or statements that events, conditions, or results "will”, "may”, "could”,
or "should” occur or be achieved. Forward-looking statements involve various risks and
uncertainties. There can be no assurance that such statements will prove to be accurate,
and actual results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ materially from the
Company's expectations include the uncertainties involving the need for additional financing
to explore and develop properties and availability of financing in the debt and capital
markets; uncertainties involved in the interpretation of drilling results and geological tests
and the estimation of reserves and resources; the need for cooperation of government
agencies and native groups in the development and operation of properties as well as the
construction of the access road; the need to obtain permits and governmental approvals;
risks of construction and mining projects such as accidents, equipment breakdowns, bad
weather, non-compliance with environmental and permit requirements, unanticipated
variation in geological structures, metal grades or recovery rates; unexpected cost
increases, which could include significant increases in estimated capital and operating costs;
fluctuations in metal prices and currency exchange rates; and other risks and uncertainties
disclosed in the Company’s Annual Report on Form 10-K for the year ended November 30,
2016 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's
forward-looking statements reflect the beliefs, opinions and projections on the date the
statements are made. 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.