Financing ·
Trilogy Metals closes $35.6M strategic equity investment with U.S. Department of War for Alaska projects
TMQTrilogy Metals Inc.
Trilogy Metals Inc. closed a strategic equity investment with the U.S. Department of War on September 11, 2026. The transaction involves the sale of approximately $35.6 million in units to advance exploration and development of the Upper Kobuk Mineral Projects in Alaska. Trilogy issued 8,215,570 units at $2.17 per unit for roughly $17.8 million, with each unit comprising one common share and three-quarters of a warrant exercisable at $0.01 per share for ten years. Concurrently, South32 sold shares to the Department of War, reducing its stake from 10.7% to approximately 6.0%. The company operates in the metal exploration and development industry.