Trilogy Metals Announces Execution Of Definitive Agreements For Strategic Equity Investment By The U.S. Department Of War
TMQ•Strategic equity investment agreements signed
Aug. 28 (Reuters) - Trilogy Metals TMQ.TO:
- Trilogy Metals announces execution of definitive agreements for strategic equity investment by the U.S. Department of War.
- Trilogy Metals executes agreements for $35.60 million strategic investment from the U.S. Department of War.
- The department will invest $17.80 million in Trilogy Metals for 8,215,570 units at $2.17 per unit.
- Upon completion of the transaction, the department will hold approximately 10% of Trilogy Metals, on a non-diluted basis.
- Trilogy Metals agrees not to incur third-party indebtedness over $1 billion without the department's approval.
- The investment is intended to advance exploration and development of the Upper Kobuk mineral projects in northwestern Alaska.
