Trilogy Metals Inc. (TSE:TMQ) Files An 8-K Other Events
Item 8.01
As previously disclosed, on April 10, 2017, Trilogy Metals Inc. (the “Company”) entered into an Option Agreement to Form Joint Venture (the “Agreement”) with NovaCopper US Inc. and South32 Limited (“South32”). The Agreement granted to South32 an option (the “Option”) to form a 50/50 joint venture (the “JV”) with the Company with respect to the Company’s Alaskan assets, known collectively as the Upper Kobuk Mineral Projects (the “UKMP”).
On December 19, 2019, the Company and South32 jointly announced in a press release that South32 has exercised the Option to form the JV. The Company will contribute all of its assets associated with the UKMP and South32 will make a subscription payment of approximately $145 million to form and fund the JV, which is expected to occur in February 2020. The press release relating to the foregoing is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| 99.1 | Press release, dated December 19, 2019 |
Trilogy Metals Inc. Exhibit
EX-99.1 2 ex991.htm NEWS RELEASE DATED DECEMBER 19,…
To view the full exhibit click here
About Trilogy Metals Inc. (TSE:TMQ)
Trilogy Metals Inc, formerly NovaCopper Inc, is a Canada-based metals exploration company. The Company is engaged in exploring and developing the Ambler mining district located in northwestern Alaska. The Company’s segments are Alaska, USA; Antioquia, Colombia, and Corporate and other. The Company focuses on the Arctic deposit, which is a volcanogenic massive sulfide deposit located approximately 470 kilometers northwest of the City of Fairbanks, Alaska. The Company’s Arctic deposit focuses on engineering and environmental site investigation studies. The Company’s Bornite deposit is a carbonate-hosted copper deposit located approximately 25 Kilometers southwest of the Company’s Arctic project. The Company’s Bornite deposit focuses on exploration, with mineralization and opens to the north, northeast and south.
