Trilogy Metals Inc. — Director's Dealing 2021

Nov 11, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Trilogy Metals Inc. (TMQ)
CIK: 0001543418
Period of Report: 2021-11-09

Reporting Person: MADHAVPEDDI KALIDAS V (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-09	Common Shares	M	75000	$0.56	Acquired	75601	Direct
2021-11-09	Common Shares	S	23392	$1.90	Disposed	52209	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-11-09	Director Stock Option (Right to Buy)	$0.56	M	75000	Disposed	2021-12-14	Common Shares (75000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	329293	Indirect

Footnotes

F1: Converted from Canadian exercise price of C$0.70 using an exchange rate of C$1.2448 = US$1.00.

F2: The sales price reported above is a weighted average price. The shares were sold in multiple transactions at prices ranging from C$2.33 to C$2.41, inclusive. The reporting person undertakes to provide to Trilogy Metals Inc., any security holder of Trilogy Metals Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. The Canadian sales price of C$2.37 was converted into U.S dollars using an exchange rate of C$1.2448 - U.S. $1.00.

F3: The Kalidas and Darlene Madhavpeddi Family Trust dtd 07/27/1998 is a trust established for the benefit of the reporting person's family (the "Trust"). The reporting person is a trustee and a primary beneficiary of the Trust.