Latest news with #TrilogyMetals
Yahoo
10-07-2025
- Business
- Yahoo
Update: Trilogy Metals Up 13% Even as Its Fiscal Second-Quarter Loss Widens
Trilogy Metals ( on Thursday said its fiscal second-quarter loss widened due to higher regula
Yahoo
10-07-2025
- Business
- Yahoo
Trilogy Metals Reports Second Quarter Fiscal 2025 Financial Results and Provides Updated Cash Position
VANCOUVER, BC, July 10, 2025 /CNW/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy", "Trilogy Metals" or the "Company") announces its financial results for the second quarter ended May 31, 2025. Details of the Company's financial results are contained in the interim unaudited consolidated financial statements and Management's Discussion and Analysis which will be available on the Company's website at on SEDAR+ at and on EDGAR at All amounts are in United States dollars unless otherwise stated. Quarterly Highlights Cash on hand of $24.6 million and working capital of $23.8 million as at May 31, 2025. Annual general meeting of shareholders (the "AGM") held with all directors re-elected. Base Shelf Prospectus (as defined below) and at-the-market equity program (the "ATM Program") established. Corporate Activities The AGM was held on May 13, 2025. All directors nominated by the Company were elected by shareholders of the Company, with each director receiving greater than 94% of the votes cast. The shareholders also voted in favour of all other items of business including the continuation of the Company's Restricted Share Unit Plan and Deferred Share Unit Plan. Base Shelf Prospectus and ATM Program The Company filed a final short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada (the "Canadian Base Shelf Prospectus"), and a corresponding shelf registration statement on Form S-3 (the "Registration Statement" together with the Canadian Base Shelf Prospectus, the "Base Shelf Prospectus") with the United States Securities and Exchange Commission allowing for the future issuance, from time to time, of up to US$50 million in common shares of the Company (the "Common Shares"), warrants to purchase Common Shares, share purchase contracts of the Company, subscription receipts and units comprised of some or all of the foregoing securities (collectively, the "Securities"). Any amounts, prices and terms will be determined based on market conditions at the time of an offering and will be set out in an accompanying prospectus supplement. The final Base Shelf Prospectus became effective on April 14, 2025. The Canadian Base Shelf Prospectus will remain effective for 25 months, while the Registration Statement will remain effective for three years. On May 27, 2025, the Company entered into an equity distribution agreement (the "Distribution Agreement") with BMO Nesbitt Burns Inc., Cantor Fitzgerald Canada Corporation (the "Canadian Agents"), BMO Capital Markets Corp. and Cantor Fitzgerald & Co. (the "U.S. Agents" together with the Canadian Agents, the "Agents") for the ATM Program. On the same date, the Company filed a prospectus supplement (the "Prospectus Supplement") to the Canadian Base Shelf Prospectus and the US shelf registration statement on Form S-3 qualifying the distribution of the Common Shares under the ATM Program. Under the ATM Program and pursuant to the Distribution Agreement and the Prospectus Supplement, the Company may sell up to US$25 million of Common Shares. The Common Shares sold under the ATM Program, if any, will be sold at the prevailing market price at the time of sale. The net proceeds of any such sales under the ATM Program are anticipated to be used for continued development of the Upper Kobuk Mineral Projects and for general corporate purposes. Selected Results The following selected financial information is prepared in accordance with U.S. GAAP. in thousands of dollars,except for per share amounts Three months ended Six months ended Selected expenses May 31, 2025 $ May 31, 2024 $ May 31, 2025 $ May 31, 2024 $ General and administrative 353 319 696 734 Investor relations 18 19 34 31 Professional fees 612 192 1,059 392 Salaries 316 178 523 369 Salaries and directors expense – stock-based compensation 367 509 2,597 2,508 Share of loss on equity investment 764 602 1,345 1,395 Comprehensive loss for the period (2,177) (1,759) (5,800) (5,360) Basic and diluted loss per common share (0.01) (0.01) (0.04) (0.03) For the three-month period ended May 31, 2025, we reported a net loss of $2.2 million compared to a net loss of $1.8 million for the three-month period ended May 31, 2024. The increase in comprehensive loss in the second quarter of 2025, compared to the same quarter in 2024, was primarily driven by higher regulatory expenses and legal fees related to the Company's Base Shelf Prospectus and ATM Program. For the three-month period ended May 31, 2025, salaries increased due to executives receiving 100% of their base compensation in cash starting on March 1, 2025. In comparison, during the same period in 2024, all of the base salary for the Company's Chief Executive Officer and one-third of the base salaries for the other executives was paid in Restricted Share Units as part of a multi-year cash conservation initiative, which was recorded in stock-based compensation. The increase in salaries was offset by a corresponding decrease in stock-based compensation expense. The increase in our share of loss of Ambler Metals was primarily driven by higher professional consulting fees related to engineering activities incurred during the second quarter and partially offset by a reduction in overall activities at the Ambler Access Project. For the six-month period ended May 31, 2025, we reported a net loss of $5.8 million, compared to a net loss of $5.4 million for the same period in 2024. The increase was primarily driven by higher regulatory expenses and legal fees related to the Company's Base Shelf Prospectus and ATM Program of $0.7 million, as well as fees related to the preparation of the Bornite preliminary economic assessment study (the "Bornite PEA") of $0.2 million. Salaries increased due to executives receiving 100% of their base compensation in cash starting on March 1, 2025. In comparison, during the same period in 2024, a portion of executive compensation was paid in Restricted Share Units. Our share of losses from Ambler Metals for the six-month period ended May 31, 2025 remained comparable to the same period in 2024. Additionally, overall corporate costs were partially offset by $0.4 million in interest income earned. Liquidity and Capital Resources During the six-month period ending May 31, 2025, we used $1.4 million for operating activities. The majority of these funds was spent on corporate salaries, professional fees to complete the Bornite PEA, and the establishment of the Shelf Base Prospectus and ATM Program along with related regulatory filing fees with the United States and Canadian securities commissions. In addition, the Company incurred annual listing fees for the NYSE American Exchange and the Toronto Stock Exchange during the first fiscal quarter. These outflows were partially offset by $0.4 million in interest income earned. As at May 31, 2025, we had $24.6 million in cash and cash equivalents and working capital, which we define as current assets less current liabilities, of $23.8 million. There is sufficient cash on hand to fund the approved fiscal 2025 cash budget of $3.1 million. To ensure sufficient liquidity in the future to support our operations, administration expenses and contributions for our share of Ambler Metals, we have an effective Base Shelf Prospectus that allows for the future issuance, from time to time, of up to US$50.0 million in Securities. We have also established an ATM Program whereby we may, from time to time and at our discretion, offer and sell the Common Shares having an aggregate gross sales price of up to US$25.0 million under the ATM Program, through the Agents, at the prevailing market price at the time of sale. As at July 10, 2025, we have not utilized the ATM Program. We believe our current cash position is sufficient to meet our working capital requirement for the next 12 months. Additionally, we have access to capital markets to support any future funding needs related to joint venture contributions. Qualified Person Richard Gosse, Vice President Exploration for Trilogy Metals, is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Gosse has reviewed the technical information in this news release and approves the disclosure contained herein. About Trilogy Metals Trilogy Metals Inc. is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the Upper Kobuk Mineral Projects in northwestern Alaska. On December 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt 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 a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods. Cautionary Note Regarding Forward-Looking Statements This news 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, statements regarding the ATM Program and the use of proceeds of sales, potential actions and effects resulting from the executive orders and statements from the Department of the Interior, Bureau of Land Management, perceived merit of properties, the sufficiency of cash for the next twelve months and the Company's plans to provide further updates and the timing thereof 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 our assumptions with respect to those uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended November 30, 2024 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. 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Globe and Mail
27-05-2025
- Business
- Globe and Mail
Trilogy Metals Enters Into At-The-Market Equity Distribution Agreement
VANCOUVER, BC , May 27, 2025 /CNW/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) (" Trilogy Metals", " Trilogy" or "the Company") has entered into an equity distribution agreement dated May 27, 2025 (the " Distribution Agreement") with BMO Nesbitt Burns Inc. and Cantor Fitzgerald Canada Corporation (the " Canadian Agents") and BMO Capital Markets Corp. and Cantor Fitzgerald & Co. (the " U.S. Agents" and together with the Canadian Agents, the " Agents") for an at-the-market equity program (" ATM Program"). The Distribution Agreement will allow the Company to distribute up to US$25 million (or the equivalent in Canadian dollars) of common shares of the Company (the " Offered Shares") under the ATM Program. The Offered Shares will be issued by the Company to the public from time to time, through the Agents, at the Company's discretion. The Offered Shares sold under the ATM Program, if any, will be sold at the prevailing market price at the time of sale. The net proceeds of any such sales under the ATM Program are anticipated to be used for continued development of the Upper Kobuk Mineral Projects and for general corporate purposes. Under the Distribution Agreement, sales of Offered Shares will be made by the Agents through "at-the-market distributions" as defined in National Instrument 44-102 – Shelf Distributions and Rule 415 of the Securities Act of 1933, as amended, on the Toronto Stock Exchange (the " TSX"), NYSE American, LLC (" NYSE American") or any other trading market for the Offered Shares in Canada or the United States or as otherwise agreed between the Agents and the Company. The Company is not obligated to make any sales of Offered Shares under the Distribution Agreement. Unless earlier terminated by the Company or the Agents as permitted therein, the Distribution Agreement will terminate upon the earlier of (i) May 14, 2027 and (ii) the date that the aggregate gross sales proceeds of the Offered Shares sold under the ATM Program reaches the aggregate amount of US$25 million (or the equivalent in Canadian dollars). The U.S. Agents are not registered as investment dealers in any Canadian jurisdiction and, accordingly, the U.S. Agents will only sell Offered Shares on marketplaces in the United States and are not permitted to and will not, directly or indirectly, advertise or solicit offers to purchase any Offered Shares in Canada . The Canadian Agent will only sell Offered Shares on marketplaces in Canada . The ATM Program is being made pursuant to a prospectus supplement dated May 27, 2025 to the Company's short form base shelf prospectus dated April 14, 2025 and the Company's U.S. shelf registration statement on Form S-3 effective April 14, 2025 . The prospectus supplement relating to the ATM Program has been filed with the securities commissions in each of the provinces and territories of Canada and with the United States Securities and Exchange Commission (the " SEC"), and are available on SEDAR+ at and EDGAR at respectively. The prospectus supplement filed today adds to, updates or otherwise changes information contained in the accompanying prospectus contained in the Company's shelf registration statement on Form S-3 (File No. 333- 285072) which became effective on April 14, 2025 . Prospective investors should read the prospectus in that registration statement and the prospectus supplement (including the documents incorporated by reference therein) for more complete information about the Company and the ATM Program, including the risks associated with investing in the Company. Copies of the prospectus supplement and related prospectus may be obtained from BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 W. 42 nd Street, 32 nd Floor, New York, New York 10036, by email at bmoprospectus@ and from Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6 th floor, New York, New York 10022, by email at prospectus@ You may also obtain these documents free of charge when they are available by visiting EDGAR on the SEC's website at This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Trilogy Metals Trilogy Metals Inc. is a metal exploration and development company holding a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the Upper Kobuk Mineral Projects in northwestern Alaska . On December 19, 2019 , South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide (" VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt 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 a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods. Cautionary Note Regarding Forward-Looking Statements This news 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, statements regarding the ATM Program and the use of proceeds of sales, if any, under the ATM Program 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 outcome of pending litigation, success of exploration activities, permitting timelines, requirements for additional capital, government regulation of mining operations, environmental risks, prices for energy inputs, labour, materials, supplies and services, uncertainties involved in the interpretation of drilling results and geological tests, unexpected cost increases and other risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended November 30, 2024 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.
Yahoo
14-05-2025
- Business
- Yahoo
Trilogy Metals Announces Election of Directors and Voting Results from the 2025 Annual Meeting of Shareholders
VANCOUVER, BC, May 14, 2025 /CNW/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy Metals" or the "Company") is pleased to announce the detailed voting results on the items of business considered at its Annual Meeting of Shareholders ("Meeting") held in Vancouver on Tuesday, May 13, 2025. All proposals were approved and the nominees listed in the management proxy circular for the meeting were all elected as directors. A total of 122,296,116 or 74.50% of the Company's issued and outstanding shares eligible to vote were represented at the Meeting. Shareholder Voting Results The Shareholders voted on the following matters at this year's Meeting. Other than Proposal 1, which represents votes by ballot, the results presented below represent votes according to proxies received. Proposal 1: Election of Directors Nominee Votes For % Votes For Votes Withheld % Votes Withheld Tony Giardini 99,486,993 99.63 367,716 0.37 James Gowans 99,046,528 99.19 808,181 0.81 William Hayden 99,277,655 99.42 577,053 0.58 William Hensley 99,285,059 99.43 569,649 0.57 Gregory Lang 94,042,296 94.18 5,812,413 5.82 Janice Stairs 99,432,506 99.58 422,202 0.42 Diana Walters 99,436,555 99.58 418,154 0.42 Proposal 2: Appointment of the Auditor Votes For % Votes For Votes Withheld % Votes Withheld 122,110,200 99.85 183,915 0.15 Proposal 3: Approval of all unallocated entitlements under the Restricted Share Unit Plan Votes For % Votes For Votes Against % Votes Against Votes Abstaining % Votes Abstaining 97,738,217 97.88 1,734,107 1.74 380,383 0.38 Proposal 4: Approval of all unallocated entitlements under the Deferred Share Unit Plan Votes For % Votes For Votes Against % Votes Against Votes Abstaining % Votes Abstaining 97,718,577 97.86 1,749,193 1.75 384,936 0.39 Proposal 5: Approval of a Non-Binding Resolution Approving the Compensation of the Company's Named Executive Officers Votes For % Votes For VotesAgainst % Votes Against Votes Abstaining % Votes Abstaining 98,002,630 98.15 1,439,181 1.44 410,896 0.41 Detailed results of all items of business are also available in the Report of Voting Results filed under the Company's SEDAR+ profile ("SEDAR") and on the Form 8-K filed under the Company's EDGAR profile at ("EDGAR"). About Trilogy Metals Trilogy Metals Inc. is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC which has a 100 percent interest in the Upper Kobuk Mineral Projects ("UKMP") in Northwestern Alaska. On December 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt 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 a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods. View original content to download multimedia: SOURCE Trilogy Metals Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
14-05-2025
- Business
- Cision Canada
Trilogy Metals Announces Election of Directors and Voting Results from the 2025 Annual Meeting of Shareholders
VANCOUVER, BC, May 14, 2025 /CNW/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy Metals" or the "Company") is pleased to announce the detailed voting results on the items of business considered at its Annual Meeting of Shareholders ("Meeting") held in Vancouver on Tuesday, May 13, 2025. All proposals were approved and the nominees listed in the management proxy circular for the meeting were all elected as directors. A total of 122,296,116 or 74.50% of the Company's issued and outstanding shares eligible to vote were represented at the Meeting. Shareholder Voting Results The Shareholders voted on the following matters at this year's Meeting. Other than Proposal 1, which represents votes by ballot, the results presented below represent votes according to proxies received. Proposal 1: Election of Directors Proposal 2: Appointment of the Auditor Votes For % Votes For Votes Withheld % Votes Withheld 122,110,200 99.85 183,915 0.15 Proposal 3: Approval of all unallocated entitlements under the Restricted Share Unit Plan Votes For % Votes For Votes Against % Votes Against Votes Abstaining % Votes Abstaining 97,738,217 97.88 1,734,107 1.74 380,383 0.38 Proposal 4: Approval of all unallocated entitlements under the Deferred Share Unit Plan Votes For % Votes For Votes Against % Votes Against Votes Abstaining % Votes Abstaining 97,718,577 97.86 1,749,193 1.75 384,936 0.39 Proposal 5: Approval of a Non-Binding Resolution Approving the Compensation of the Company's Named Executive Officers Votes For % Votes For Votes Against % Votes Against Votes Abstaining % Votes Abstaining 98,002,630 98.15 1,439,181 1.44 410,896 0.41 Detailed results of all items of business are also available in the Report of Voting Results filed under the Company's SEDAR+ profile ("SEDAR") and on the Form 8-K filed under the Company's EDGAR profile at ("EDGAR"). About Trilogy Metals Trilogy Metals Inc. is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC which has a 100 percent interest in the Upper Kobuk Mineral Projects ("UKMP") in Northwestern Alaska. On December 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt 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 a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods.
