Financing ·
Trilogy Metals raises $17.8 million from U.S. Department of War, which takes 9.1% stake
TMQTrilogy Metals Inc.
Trilogy Metals Inc. reported a net income of $0.2 million for the third quarter ended August 31, 2026, compared to a net loss of $1.7 million in the prior year period. The company closed a strategic equity investment from the U.S. Department of War (DOW) on September 11, 2026, issuing 8,215,570 units at $2.17 per unit for gross proceeds of approximately $17.8 million. The DOW now holds approximately 9.1% of the company's outstanding common shares and is entitled to designate one independent board nominee. Trilogy Metals operates in the metals exploration and development industry.