---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-108587"
form_type: "8-K"
ticker: "TMQ"
cik: "0001543418"
company_name: "Trilogy Metals Inc."
filed_at: "2025-11-07T23:59:59+00:00"
generated_at: "2026-05-16T23:02:25.779307+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Trilogy Metals enters $200M at-the-market equity distribution agreement

## Summary
- Up to US$200M of common shares may be sold through Cantor Fitzgerald, BMO, Canaccord, National Bank, Raymond James.
- Replaces prior $25M ATM program that was fully utilized as of Nov 6, 2025.
- Net proceeds expected for continued development of Upper Kobuk Mineral Projects in Alaska and general corporate purposes.
- Sales at prevailing market prices on NYSE American; no sales in Canada or on TSX.
- Agreement terminates on earlier of Oct 31, 2028 or when $200M aggregate gross proceeds reached.

## SEC filing metadata
- accession: 0001104659-25-108587
- form_type: 8-K
- ticker: TMQ
- cik: 0001543418
- company_name: Trilogy Metals Inc.
- filed_at: 2025-11-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1543418/000110465925108587/0001104659-25-108587-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1543418/000110465925108587/tm2530534d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-108587
- JSON: https://secwatch.observer/filing/0001104659-25-108587.json
- Plain text: https://secwatch.observer/filing/0001104659-25-108587.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.