Business
Trilogy Metals announces a New Large Shareholder and the Company's CEO Significantly Increases his Share Position
Trilogy Metals announces a New Large Shareholder and the Company's CEO Significantly Incre...
About this update from Trilogy Metals Inc.
[{"type":"text","content":"\n\n\n\nTrilogy Metals announces a New Large Shareholder and the Company's CEO Significantly Increases his Share Position\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 19, 2017\n\n\n\nVANCOUVER, Dec. 19, 2017 /CNW/ - 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.\n\nConcurrently, 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.\n\n\"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.\n\nAbout Trilogy Metals\n\nTrilogy 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 district...