2023-04-19 04:26:25 ET
- Trilogy Metals ( NYSE: TMQ ) enters a non-brokered private placement to issue ~5.85M shares at a price of $0.55 per share, raising gross proceeds of ~$3.22M.
- Electrum Strategic Opportunities Fund L.P. and a wholly owned subsidiary of South32 have indicated their intention to subscribe for $1.2M each under the private placement.
- Electrum currently holds 20.4% shares and will hold 21.0% after the private placement. South32 currently holds 11.0% of shares and will hold 12.0% after the private placement.
- The company intends to issue ~5.85M shares or 3.9% of the current issued and shares.
For further details see:
Trilogy Metals announces $3.2M financing