UNITED
STATES SECURITIES AND
EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
(Rule 13d-101)
Under
the Securities Exchange Act of 1934
(Amendment
No. 1)
Trilogy
Metals Inc.
(Name
of Issuer)
Common
Shares
(Title
of Class of Securities)
89621C105
(CUSIP
Number)
Catherine
J. Boggs
Resource
Capital Funds
1400
Sixteenth Street, Suite 200
Denver,
CO 80202
United
States of America
(720)
946-1444
(Name,
Address and Telephone Number of Person
Authorized
to Receive Notices and Communications)
August
7, 2017
(Date
of Event which Requires Filing of this Statement)
If the filing person has previously filed
a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because
of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
¨
Note: Schedules filed in paper format shall
include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom
copies are to be sent.
* The remainder of this cover page shall
be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required
on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities
Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject
to all other provisions of the Act (however, see the Notes).
PERSONS WHO RESPOND TO THE COLLECTION
OF INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
1
|
NAMES OF REPORTING PERSONS
Resource Capital Fund VI L.P.
|
2
|
CHECK THE APPROPRIATE
BOX IF A MEMBER OF A GROUP (See Instructions)
(a)
¨
(b)
¨
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
WC
|
5
|
CHECK
IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
¨
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
|
7
|
SOLE VOTING POWER
8,745,050
|
8
|
SHARED VOTING POWER
0
|
9
|
SOLE DISPOSITIVE POWER
8,745,050
|
10
|
SHARED DISPOSITIVE POWER
0
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
8,745,050
|
12
|
CHECK
IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
¨
(See Instructions)
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.28%
|
14
|
TYPE OF REPORTING PERSON (See Instructions)
PN
|
1
|
NAMES OF REPORTING PERSONS
Resource Capital Associates VI
L.P.
|
2
|
CHECK THE APPROPRIATE BOX
IF A MEMBER OF A GROUP (See Instructions)
(a)
¨
(b)
¨
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
OO
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
¨
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
|
7
|
SOLE VOTING POWER
8,745,050
|
8
|
SHARED VOTING POWER
0
|
9
|
SOLE DISPOSITIVE POWER
8,745,050
|
10
|
SHARED DISPOSITIVE POWER
0
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
8,745,050
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
¨
(See Instructions)
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11)
8.28%
|
14
|
TYPE OF REPORTING PERSON (See Instructions)
PN
|
|
|
|
|
1
|
NAMES OF REPORTING PERSONS
RCA VI GP Ltd.
|
2
|
CHECK THE APPROPRIATE
BOX IF A MEMBER OF A GROUP (See Instructions)
(a)
¨
(b)
¨
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS (See Instructions)
OO
|
5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
¨
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
|
7
|
SOLE VOTING POWER
8,745,050
|
8
|
SHARED VOTING POWER
0
|
9
|
SOLE DISPOSITIVE POWER
8,745,050
|
10
|
SHARED DISPOSITIVE POWER
0
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
8,745,050
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES
¨
(See Instructions)
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11)
8.28%
|
14
|
TYPE OF REPORTING PERSON (See Instructions)
OO, HC
|
Item 1
.
Security and Issuer
.
This Amendment No. 1 to the statement on
Schedule 13D (this “Amendment No. 1”) amends and supplements the statement on Schedule 13D (the “Original Schedule
13D”) filed on December 10, 2015 (the Original Schedule 13D, as amended and supplemented by this Amendment No. 1, the “Schedule
13D”), by the Reporting Persons, and relates to the disposal of beneficial ownership of Common Shares, no par value, (the
“Common Shares”) of Trilogy Metals Inc., (the “Company”), whose principal executive office is located at
Suite 1950, 777 Dunsmuir Street Vancouver, British Columbia. This Amendment No. 1 is being filed to disclose that the Reporting
Persons have sold a portion of their interests in the Company. Capitalized terms used herein without definition shall have the
meaning set forth in the Original Schedule 13D.
Item 2
.
Identity and Background
.
The persons filing this Amendment No. 1
(collectively, the “Reporting Persons”) are:
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a.
|
Resource Capital Fund VI L.P. (“RCF VI”), a Cayman Islands exempt limited partnership, whose address is 1400 Sixteenth
Street, Suite 200, Denver, Colorado 80202. The principal business of RCF VI is investments.
|
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b.
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Resource Capital Associates VI L.P. (“Associates VI”), a Cayman Islands exempt limited partnership, whose address
is 1400 Sixteenth Street, Suite 200, Denver, Colorado 80202. Associates VI is the general partner of RCF VI. The principal business
of Associates VI is to act as the general partner of RCF VI.
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c.
|
RCA VI GP Ltd. (“RCA VI”), a Cayman Islands exempt company, whose address is 1400 Sixteenth Street, Suite 200,
Denver, Colorado 80202. RCA VI is the general partner of Associates VI. The principal business of RCA VI is to act as the general
partner of Associates VI.
|
The sole members of RCA VI are
Messrs. Ryan T. Bennett, Ross R. Bhappu, Russ Cranswick, James McClements, Henderson G. Tuten and Ms. Sherri Croasdale
(collectively, the “Principals”). The business of RCA VI is directed by the officers of RCA VI. The Principals
serve as executive officers of RCA VI. The business address of each of Messrs. Bennett, Bhappu, Cranswick, McClements, Tuten
and Ms. Croasdale is 1400 Sixteenth Street, Suite 200, Denver, Colorado 80202. The principal occupation of Messrs. Bennett,
Bhappu, Cranswick, McClements, Tuten and Ms. Croasdale is serving as senior executives of the Resource Capital Funds which
include RCF VI.
RCF VI and Associates VI are each Cayman Islands exempt limited partnerships.
RCA VI is a Cayman Islands
exempt company.
Messrs. Bennett, Bhappu, Tuten and Ms. Croasdale are citizens of the United States. Mr. Cranswick is a
citizen of Canada. Mr. McClements is a citizen of Australia.
During the last five years, none of the
Reporting Persons nor any Principal has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors).
During the last five years, none of the Reporting Persons nor any Principal has been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction making such Reporting Person or Principal subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
Item 4
.
Purpose of Transaction
.
The Reporting Persons are filing this
Amendment No. 1 to disclose the sale of Common Shares in the open market.
Between August 7, 2017 and August 10,
2017, RCF VI disposed of 1,608,250 Common Shares in the open market for net proceeds of $1,926,432.62 USD. The number of shares
disposed on each day and the price or volume weighed average price for such shares are set forth in Exhibit B: Open Market Dispositions
of Common Shares to this Statement and incorporated herein by reference.
None of the Reporting Persons currently
has any plans or proposals which relate to or would result in any of the actions or transactions specified in clauses (a) through
(j) of Item 4 of Schedule 13D. Each of the Reporting Persons reserves the right to acquire or dispose of the securities of the
Company or to formulate other purposes, plans or proposals regarding the Company or its securities to the extent deemed advisable
in light of general investment policies, market conditions and other factors.
Item 5. Interest in Securities of
the Issuer
.
As of August 11, 2017, RCF VI beneficially
owned 8,745,050 Common Shares of the Company for a total aggregate holding by the Reporting Persons of 8,745,050 Common Shares
of the Company. Based on the foregoing and using 105,554,489 as the number of outstanding Common Shares of the Company, RCF VI
may be deemed to have sole voting and dispositive power over, and therefore beneficial ownership of, approximately 8.28% of the
issued and outstanding Common Shares of the Company.
As of August 11, 2017, Associates VI may
be deemed to have sole voting and dispositive power over, and therefore beneficial ownership of, approximately 8.28% of the issued
and outstanding Common Shares of the Company.
As of August 11, 2017, RCA VI may be deemed
to have sole voting and dispositive power over, and therefore beneficial ownership of, approximately 8.28% of the issued and outstanding
Common Shares of the Company.
Except as described above, none of the
Reporting Persons has effected any additional transactions with respect to the Common Shares of the Company during the past 60
days.
Item 7
.
Material to Be Filed
as Exhibits
.
Exhibit A: Joint Filing Agreement
(Incorporated by reference to Exhibit A to Original Schedule 13D filed on December 10, 2015)
Exhibit B: Open Market Dispositions
of Common Stock
SIGNATURE
After reasonable inquiry
and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and
correct.
August 11, 2017
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RCA VI GP LTD.
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By:
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/s/ Catherine J. Boggs
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Name: Catherine J. Boggs
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Title: General Counsel
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RESOURCE CAPITAL ASSOCIATES VI L.P.
|
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By:
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RCA VI GP Ltd., General Partner
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By:
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/s/ Catherine J. Boggs
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Name: Catherine J. Boggs
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Title: General Counsel
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RESOURCE CAPITAL FUND VI L.P.
|
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By:
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Resource Capital Associates VI L.P.,
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General Partner
|
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By:
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RCA VI GP Ltd., General Partner
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By:
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/s/ Catherine J. Boggs
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Name: Catherine J. Boggs
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Title: General Counsel
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Index of Exhibits
.
Exhibit A: Joint
Filing Agreement (Incorporated by reference to Exhibit A to Original Schedule 13D filed on December 10, 2015)
Exhibit B: Open Market Dispositions of Common Stock
Exhibit B
Schedule of Transactions
in Shares
The following table sets forth all transactions
with respect to Shares effected in the last sixty days by the Reporting Persons or on behalf of the Reporting Persons in respect
of the Shares, inclusive of any transactions effected through 4 p.m., New York City time, on August 10, 2017.
Except as noted below, all such transactions
were effected in the open market through brokers and the price per share is net of commissions.
Transaction Date
|
Transaction
|
Security
|
Shared Purchased (Sold)
|
Price Per Share ($)
|
08/07/2017
|
Sell
|
Common Shares
|
(530,000)
|
$1.2768
|
08/08/2017
|
Sell
|
Common Shares
|
(78,250)
|
$1.2500
|
08/09/2017
|
Sell
|
Common Shares
|
(500,000)
|
$1.1664
|
08/10/2017
|
Sell
|
Common Shares
|
(500,000)
|
$1.1569
|
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