Business
Trilogy Metals Enters Into At-The-Market Equity Distribution Agreement
Trilogy Metals Inc. (NYSE American:TMQ) (TSX: TMQ) ("Trilogy Metals", "Trilogy" or "the Company") has entered into an equity distribution agreement, effective as of November 7, 2025 (the "Distribution Agreement"), with Cantor Fitzgerald & Co. and BMO Capital Markets Corp., as lead agents (the "Lead Agents"), and Canaccord Genuity LLC, National Bank of Canada Financial Inc. and Raymond James (USA) Ltd.(collectively with the Lead Agents, the "Agents") for an at-the-market equity program ("ATM Prog
About this update from National Bank Of Canada
[{"type":"text","content":"VANCOUVER, BC, Nov. 7, 2025 /CNW/ - Trilogy Metals Inc. (NYSE American:TMQ) (TSX: TMQ) ("Trilogy Metals", "Trilogy" or "the Company") has entered into an equity distribution agreement, effective as of November 7, 2025 (the "Distribution Agreement"), with Cantor Fitzgerald & Co. and BMO Capital Markets Corp., as lead agents (the "Lead Agents"), and Canaccord Genuity LLC, National Bank of Canada Financial Inc. and Raymond James (USA) Ltd.(collectively with the Lead Agents, the "Agents") for an at-the-market equity program ("ATM Program").","length":621,"tagName":"p"},{"type":"text","content":"The Distribution Agreement will allow the Company to distribute up to US$200,000,000 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 Company is not obligated to sell any Offered Shares under the Distribution Agreement. The volume and timing of distributions under the ATM Program, if any, will be determined at the Company's sole discretion. If sales are made under the ATM Program, the net proceeds of any such sales are anticipated to be used for continued development of the Upper Kobuk Mineral Projects ("UKMP") in Alaska and for general corporate purposes.","length":874,"tagName":"p"},{"type":"text","content":"Under the Distribution Agreement, sales of Offered Shares will be made by the Lead Agents through any method that is deemed to be an "at the market" offering as defined in Rule 415(a)(4) of the Securities Act of 1933, as amended, on the NYSE American LLC ("NYSE American") or as otherwise agreed between the Lead Agents and the Company. No sales of Trilogy's Offered Shares will be made in Canada, to anyone known by the sales agent to be a resident of Canada or over or through the facilities of the Toronto Stock Exchange (the "TSX") or any other exchange or market in Canada. The Agents are not registered as investment dealers in any Canadian jurisdiction and, accordingly, will only sell Offered Shares on marketplaces in th...