Trilogy Metals Enters Into At-The-Market Equity Distribution Agreement

Core Viewpoint - Trilogy Metals Inc. has initiated an at-the-market equity program allowing the distribution of up to US$25 million in common shares to fund the development of its Upper Kobuk Mineral Projects and for general corporate purposes [2][3]. Group 1: Equity Distribution Agreement - The company has entered into a distribution agreement with BMO Nesbitt Burns Inc. and Cantor Fitzgerald Canada Corporation for the ATM program [1]. - The Offered Shares will be sold at the prevailing market price at the time of sale, with no obligation for the company to sell any shares [2][3]. - The agreement will terminate either on May 14, 2027, or when the total gross sales reach US$25 million [3]. Group 2: Agents and Marketplaces - The U.S. Agents are restricted to selling shares only in the United States and cannot solicit offers in Canada, while Canadian Agents will operate solely in Canada [4]. - The ATM program is being conducted under a prospectus supplement filed with Canadian and U.S. securities commissions [5]. Group 3: Company Overview - Trilogy Metals holds a 50% interest in Ambler Metals LLC, which owns the Upper Kobuk Mineral Projects in Alaska, known for its rich copper-dominant deposits [8][9]. - The company aims to develop the Ambler Mining District into a leading North American copper producer while respecting local communities [9].