VANCOUVER, BC, March 29,
2022 /CNW/ - Trilogy Metals Inc. (TSX:
TMQ) (NYSE American: TMQ) ("Trilogy Metals" or "the Company") will
hold the Company's 2022 Annual General Meeting of the Shareholders
("AGM") on Friday, May 13, 2022 at
10:00 am Pacific Time at the office
of the Company, Suite 1150, 609 Granville Street, Vancouver, British Columbia.
All current directors will stand for re-election at the AGM.
Other items of business include the approval of amendments to, and
unallocated entitlements under, the Company's Restricted Share Unit
Plan ("RSU Plan") and Deferred Share Unit Plan ("DSU Plan"). The
Company is asking shareholders to approve a change to the RSU Plan
to remove the option for the Company to cash settle RSUs granted to
Canadian resident directors due to potential Canadian tax
restrictions. The Company is asking shareholders to approve a
change to the DSU Plan to allow directors to elect to receive up to
100% of their annual compensation in DSUs. Both these amendments
will provide the Company flexibility to pay our directors fees in
the form of stock in an effort to preserve cash and build share
ownership. All of our directors have indicated a willingness
to receive their entire 2022 compensation in equity. The Company is
also looking at other opportunities to reduce its cash spend for
the year and will provide a further update when we release our
quarterly financial results in April.
Shareholders as of the record date of March 16, 2022 ("Record Date") will be eligible
to vote at the AGM. The Company's 2022 Management Information
Circular, which contains information about all director nominees
and the amendments to the RSU and DSU Plans was filed today and is
now available to the public. As always, we encourage you to
vote your shares prior to the AGM.
No presentations or updates on the Company's activities will be
provided at the AGM. The Company's most recent investor
presentation can be found on our website at
www.trilogymetals.com. Any investor who would like further
information on the items of business at the AGM or the Company's
activities is welcome to contact us directly.
Proxy Statement Filed with
Regulators
Additional information about the AGM can be found in the
Company's 2022 proxy statement, which has been filed the U.S.
Securities and Exchange Commission ("SEC") and the Canadian
securities regulatory authorities. The Management Information
Circular is available on the Company's website at
https://trilogymetals.com/investors/proxy-circular and on the
Company's profile on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov; and has been mailed to all shareholders as of the
Record Date.
The Company, its directors and certain of its executive officers
are participants in the solicitation of proxies from the Company's
shareholders in connection with the Company's 2022 AGM. The Company
has filed its definitive proxy statement with the SEC in
connection with any such solicitation of proxies from the Company's
shareholders. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED
TO READ SUCH PROXY STATEMENT AND ALL OTHER DOCUMENTS FILED WITH THE
SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY WILL CONTAIN IMPORTANT
INFORMATION.
About Trilogy Metals
Trilogy Metals Inc. is a metals exploration and development
company which holds a 50 percent interest in Ambler Metals LLC
("Ambler Metals") which has a 100 percent interest in the Upper
Kobuk Mineral Projects ("UKMP") in northwestern Alaska. On December 19,
2019, South32 Limited, which is a globally diversified
mining and metals company, exercised its option to form a 50/50
joint venture with Trilogy to form Ambler Metals. The UKMP is
located within the Ambler Mining District which is one of the
richest and most-prospective known copper-dominant districts. It
hosts world-class polymetallic volcanogenic massive sulphide
("VMS") deposits that contain copper, zinc, lead, gold and silver,
and carbonate replacement deposits which have been found to host
high-grade copper and cobalt mineralization. Exploration efforts
have been focused on two deposits in the Ambler mining district -
the Arctic VMS deposit and the Bornite carbonate replacement
deposit. Both deposits are located within land package that spans
approximately 172,636 hectares. The Company has an agreement with
NANA Regional Corporation, Inc., a Regional Alaska Native
Corporation that provides a framework for the exploration and
potential development of the Ambler mining district in cooperation
with local communities. Our vision is to develop the Ambler mining
district into a premier North American copper producer.
Cautionary Note Regarding
Forward-Looking Statements
This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States
securities legislation including the United States Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact, included herein, including,
without limitation, perceived merit of properties, the date and
time of the AGM, the willingness of the Company's director to
receive their compensation in equity, the Company's plans to look
for opportunities to reduce its cash spend for the year and the
Company's plans to provide further updates and the timing
thereof are forward-looking statements. Forward-looking
statements are frequently, but not always, identified by words such
as "expects", "anticipates", "believes", "intends", "estimates",
"potential", "possible", and similar expressions, or statements
that events, conditions, or results "will", "may", "could", or
"should" occur or be achieved. Forward-looking statements involve
various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's expectations include the
uncertainties involving our assumptions with respect to the impact
of the novel coronavirus (COVID-19) and other risks and
uncertainties disclosed in the Company's Annual Report on Form 10-K
for the year ended November 30, 2021
filed with Canadian securities regulatory authorities and with the
United States Securities and Exchange Commission and in other
Company reports and documents filed with applicable securities
regulatory authorities from time to time. The Company's
forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made. The Company
assumes no obligation to update the forward-looking statements or
beliefs, opinions, projections, or other factors, should they
change, except as required by law.
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SOURCE Trilogy Metals Inc.