<SEC-DOCUMENT>0001493152-18-005670.txt : 20180424
<SEC-HEADER>0001493152-18-005670.hdr.sgml : 20180424
<ACCEPTANCE-DATETIME>20180424105322
ACCESSION NUMBER:		0001493152-18-005670
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180420
FILED AS OF DATE:		20180424
DATE AS OF CHANGE:		20180424

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KAPLAN THOMAS SCOTT
		CENTRAL INDEX KEY:			0001124803

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35447
		FILM NUMBER:		18770507

	MAIL ADDRESS:	
		STREET 1:		154 WEST 18TH STREET APT 8C
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10011

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GRAT Holdings LLC
		CENTRAL INDEX KEY:			0001565707
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35447
		FILM NUMBER:		18770503

	BUSINESS ADDRESS:	
		STREET 1:		535 MADISON AVENUE, 12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		646-532-2820

	MAIL ADDRESS:	
		STREET 1:		535 MADISON AVENUE, 12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Electrum Group LLC
		CENTRAL INDEX KEY:			0001565641
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35447
		FILM NUMBER:		18770505

	BUSINESS ADDRESS:	
		STREET 1:		535 MADISON AVENUE, 11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		646-365-1600

	MAIL ADDRESS:	
		STREET 1:		535 MADISON AVENUE, 11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Electrum Strategic Opportunities Fund L.P.
		CENTRAL INDEX KEY:			0001637981
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35447
		FILM NUMBER:		18770506

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE ELECTRUM GROUP LLC
		STREET 2:		700 MADISON AVENUE, 5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10065
		BUSINESS PHONE:		(646) 365-1600

	MAIL ADDRESS:	
		STREET 1:		C/O THE ELECTRUM GROUP LLC
		STREET 2:		700 MADISON AVENUE, 5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10065

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ESOF GP Ltd.
		CENTRAL INDEX KEY:			0001663180
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35447
		FILM NUMBER:		18770504

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE ELECTRUM GROUP LLC
		STREET 2:		700 MADISON AVENUE, 5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10065
		BUSINESS PHONE:		(646) 365-1600

	MAIL ADDRESS:	
		STREET 1:		C/O THE ELECTRUM GROUP LLC
		STREET 2:		700 MADISON AVENUE, 5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10065

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Trilogy Metals Inc.
		CENTRAL INDEX KEY:			0001543418
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1130

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1150, 609 GRANVILLE STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V7Y 1G5
		BUSINESS PHONE:		(604) 638-8088

	MAIL ADDRESS:	
		STREET 1:		SUITE 1150, 609 GRANVILLE STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V7Y 1G5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NovaCopper Inc.
		DATE OF NAME CHANGE:	20120228
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2018-04-20</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001543418</issuerCik>
        <issuerName>Trilogy Metals Inc.</issuerName>
        <issuerTradingSymbol>TMQ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001124803</rptOwnerCik>
            <rptOwnerName>KAPLAN THOMAS SCOTT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>535 MADISON AVENUE, 12TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Possible member of 10% group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001637981</rptOwnerCik>
            <rptOwnerName>Electrum Strategic Opportunities Fund L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>535 MADISON AVENUE, 12TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Possible member of 10% group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001565641</rptOwnerCik>
            <rptOwnerName>Electrum Group LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>535 MADISON AVENUE, 12TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Possible member of 10% group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001663180</rptOwnerCik>
            <rptOwnerName>ESOF GP Ltd.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>535 MADISON AVENUE, 12TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Possible member of 10% group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001565707</rptOwnerCik>
            <rptOwnerName>GRAT Holdings LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>535 MADISON AVENUE, 12TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Possible member of 10% group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2018-04-20</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5031250</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.16</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>29422923</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Electrum Strategic Opportunities Fund L.P.</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Tigris Financial Group Ltd.</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>833333</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By GRAT Holdings LLC</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>113739</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Warrants (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.52</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2014-07-07</value>
            </exerciseDate>
            <expirationDate>
                <value>2019-07-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2760870</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2760870</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Electrum Strategic Opportunities Fund L.P.</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On April 20, 2018, ESOF acquired 5,031,250 of the Issuer's Common Shares for an aggregate purchase price of $5,836,250, or $1.16 per Common Share.</footnote>
        <footnote id="F2">ESOF is an investment fund, of which The Electrum Group LLC is the investment adviser. ESOF GP Ltd. is the general partner of the sole general partner of ESOF.</footnote>
        <footnote id="F3">Mr. Kaplan is the sole shareholder of Tigris Financial Group Ltd. (&quot;Tigris&quot;).</footnote>
        <footnote id="F4">GRAT Holdings LLC (&quot;GRAT Holdings&quot;) is owned by trusts for the benefit of family members of Mr. Kaplan.</footnote>
        <footnote id="F5">In accordance with Instruction 4(b)(iv) to Form 4, the entire amount of the Issuer's securities held by Tigris, GRAT Holdings, and ESOF is reported herein. For purposes of Section16 of the Securities Exchange Act of 1934, each reporting person disclaims beneficial ownership of any such securities, except to the extent of his/its indirect pecuniary interest therein, if any, and this report shall not be deemed an admission that such reporting person is the beneficial owner of such securities for purposes of Section 16 or otherwise.</footnote>
    </footnotes>

    <remarks>* Any Common Shares reported herein are no longer deemed to be beneficially owned by Leopard Holdings LLC, Electrum Global Holdings L.P., and TEG Global GP Ltd, solely due to an internal restructuring.</remarks>

    <ownerSignature>
        <signatureName>/s/ Thomas S. Kaplan</signatureName>
        <signatureDate>2018-04-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
