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Trilogy Metals Announces US$25 Million Bought Deal Offering of Common Shares
Trilogy Metals Announces US$25 Million Bought Deal Offering of Common Shares Canad...
About this update from Trilogy Metals Inc.
[{"type":"text","content":"\n\n\n\nTrilogy Metals Announces US$25 Million Bought Deal Offering of Common Shares\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, April 16, 2018\n\n\n\nVANCOUVER, April 16, 2018 /CNW/ - Trilogy Metals Inc. (TSX/NYSE American: TMQ) (\"Trilogy Metals\" or \"the Company\") is pleased to announce that it has entered into an underwriting agreement (the \"Underwriting Agreement\") with a syndicate of underwriters (the \"Underwriters\") led by Cantor Fitzgerald Canada Corporation, acting as sole lead underwriter and book-running manager, and including Cormark Securities Inc., BMO Capital Markets and Roth Capital Partners, LLC, under which the Underwriters have agreed to buy on a bought deal, underwritten basis 21,551,724 common shares (the \"Offered Shares\") of the Company at a price of US$1.16 per Offered Share (the \"Offering Price\") for aggregate gross proceeds of approximately US$25 million (the \"Offering\").   \n\nPursuant to the terms of an underwriting agreement among the Company and the Underwriters (the \"Underwriting Agreement\"), the Company has granted the Underwriters an option, exercisable at the Offering Price at any time prior to 5:00 p.m. (Toronto time) on the day that is the 30th day following the closing date of the Offering, to purchase up to an additional 15% of the base Offered Shares offered in the Offering solely to cover over-allotments, if any, and for market stabilization purposes. The Offering is expected to close on or about April 20, 2018, subject to receipt of customary TSX and NYSE American approvals. \n\nThe Company intends to use the net proceeds of the Offering (i) to advance the Arctic Project to feasibility and permitting, (ii) for exploration in the Ambler mining district and (iii) for general corporate purposes.\n\nThe Company intends to file a final prospectus supplement (the \"Supplement\") in both Canada and the United States to its Canadian short form base shelf prospectus (the \"Canadian Base Prospectus\") dated November 21, 2017 and its U.S. shelf registration statement on Form S-3 (the \...