0001144204-17-061742.txt : 20171130 0001144204-17-061742.hdr.sgml : 20171130 20171130172544 ACCESSION NUMBER: 0001144204-17-061742 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20171130 DATE AS OF CHANGE: 20171130 GROUP MEMBERS: RCA VI GP LTD. GROUP MEMBERS: RESOURCE CAPITAL ASSOCIATES VI L.P. SUBJECT COMPANY: 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 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-86837 FILM NUMBER: 171231970 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 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Resource Capital Fund VI L.P. CENTRAL INDEX KEY: 0001569972 IRS NUMBER: 981091392 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1400 SIXTEENTH STREET STREET 2: SUITE 200 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 720-946-1444 MAIL ADDRESS: STREET 1: 1400 SIXTEENTH STREET STREET 2: SUITE 200 CITY: DENVER STATE: CO ZIP: 80202 SC 13D/A 1 tv480569_sc13d-a.htm SC 13D/A

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

(Rule 13d-101)

 

Under the Securities Exchange Act of 1934

(Amendment No. 2)

 

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)

 

November 28, 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

 

7,659,096

8

SHARED VOTING POWER

 

0

9

SOLE DISPOSITIVE POWER

 

7,659,096

10

SHARED DISPOSITIVE POWER

 

0

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7,659,096

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

(See Instructions)

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

7.25%

14

TYPE OF REPORTING PERSON (See Instructions)

 

PN

 

 2 

 

 

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

 

7,659,096

8

SHARED VOTING POWER

 

0

9

SOLE DISPOSITIVE POWER

 

7,659,096

10

SHARED DISPOSITIVE POWER

 

0

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7,659,096

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

(See Instructions)

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

7.25%

14

TYPE OF REPORTING PERSON (See Instructions)

 

PN

 

 3 

 

 

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

 

7,659,096

8

SHARED VOTING POWER

 

0

9

SOLE DISPOSITIVE POWER

 

7,659,096

10

SHARED DISPOSITIVE POWER

 

0

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7,659,096

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨

(See Instructions)

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

7.25%

14

TYPE OF REPORTING PERSON (See Instructions)

 

OO, HC

 

 4 

 

 

Item 1. Security and Issuer.

 

This Amendment No. 2 to the statement on Schedule 13D (this “Amendment No. 2”) 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 Amendment No. 1 filed on August 11, 2017 and this Amendment No. 2, 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. 2 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. 2 (collectively, the “Reporting Persons”) are:

 

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.

 

b.          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.

 

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. 2 to disclose the sale of Common Shares in the open market.

 

Between September 12, 2017 and November 28, 2017, RCF VI disposed of 1,085,954 Common Shares in the open market for net proceeds of $1,034,243.52USD. 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.

 

 5 

 

 

Item 5. Interest in Securities of the Issuer.

 

As of November 30, 2017, RCF VI beneficially owned 7,659,096 Common Shares of the Company for a total aggregate holding by the Reporting Persons 7,659,096 Common Shares of the Company. Based on the foregoing and using 105,684,523 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 7.25% of the issued and outstanding Common Shares of the Company.

 

As of November 30, 2017, Associates VI may be deemed to have sole voting and dispositive power over, and therefore beneficial ownership of, approximately 7.25% of the issued and outstanding Common Shares of the Company.

 

As of November 30, 2017, RCA VI may be deemed to have sole voting and dispositive power over, and therefore beneficial ownership of, approximately 7.25% 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

 

 

 

 6 

 

 

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.

 

 

November 30, 2017

 

  RCA VI GP LTD.
     
     
  By: /s/ Catherine J. Boggs  
    Name: Catherine J. Boggs
    Title: General Counsel
     
     
  RESOURCE CAPITAL ASSOCIATES VI L.P.
     
  By: RCA VI GP Ltd., General Partner
     
     
  By: /s/ Catherine J. Boggs  
    Name:Catherine J. Boggs
    Title: General Counsel
     
     
  RESOURCE CAPITAL FUND VI L.P.
     
  By: Resource Capital Associates VI L.P.,
    General Partner
     
  By: RCA VI GP Ltd., General Partner
     
     
  By: /s/ Catherine J. Boggs  
    Name: Catherine J. Boggs
    Title: General Counsel

 

 7 

 

 

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

 

 

 

 

 8 

 

 

Exhibit B

 

 

Open Market Dispositions of Common Stock

 

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 November 30, 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 ($)
09/12/2017 Sell Common Shares  (57,584) $1.0001
09/20/2017 Sell Common Shares  (30,019) $1.0150
10/04/2017 Sell Common Shares  (337,022) $0.9008
10/05/2017 Sell Common Shares  (47,095) $0.9049
10/13/2017 Sell Common Shares  (82,880) $1.0848
10/16/2017 Sell Common Shares  (77,421) $1.0910
10/25/2017 Sell Common Shares  (101,069) $1.0061
11/02/2017 Sell Common Shares  (49,853) $1.0007
11/10/2017 Sell Common Shares  (115,603) $0.9907
11/28/2017 Sell Common Shares  (187,408) $0.8511

 

 

 9