Business
Trilogy Metals Announces Strategic Investment by US Federal Government
Trilogy Metals Announces Strategic Investment by US Federal Government Canada NewsWire ...
About this update from Trilogy Metals Inc.
[{"type":"text","content":"\n\n\n\n Trilogy Metals Announces Strategic Investment by US Federal Government\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n This news release constitutes a \"designated news release\" for the purposes of Trilogy Metals Inc.'s prospectus supplement dated\n \n May 27, 2025\n \n , to its short form base shelf prospectus dated\n \n April 14, 2025\n \n .\n \n\n\n\n\n NYSE American / TSX\n \n\n\n\n\n Symbol: TMQ\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Oct. 6, 2025\n \n\n /CNW/ -\n \n Trilogy Metals Inc.\n \n (NYSE American: TMQ) (TSX: TMQ) (\"Trilogy Metals\", \"Trilogy\" or \"the Company\") is pleased to announce that the Company, South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (\"South32\") and Ambler Metals LLC (\"Ambler Metals\") have entered into a binding letter of intent with the U.S. Department of War (\"DOW\"), led by the Office of the Undersecretary of Defense for Acquisitions and Sustainment (\"OUSD (A&S)\") and the Office of Strategic Capital (\"OSC\"), for an investment to advance exploration and development of the Company's Upper Kobuk Mineral Projects (\"UKMP\").  The UKMP are held by Ambler Metals  – the Company's 50/50 joint venture with South32.\n \n\n\n The DOW to invest approximately\n \n $35.6 million\n \n for the development of critical mineral resources at the UKMP in transactions with Trilogy Metals and South32.\n \n\n\n\n The DOW will hold approximately 10% of Trilogy Metals.\n \n\n\n The DOW intends to invest approximately\n \n $17.8 million\n \n in Trilogy Metals in exchange for 8,215,570 units at a price of\n \n $2.17\n \n per unit, with each unit comprising of one common share of Trilogy Metals and 3/4 of a 10-year warrant. Each full warrant would be exercisable following completion of construction of the Ambler Access Project (or \"Ambler Road\") at an exercise price of\n \n $0.01\n \n to acquire one common share of Trilogy.\n \n\n The DOW intends to pay approximately\n \n $17.8 million\n \n to South32 in exchange fo...