On October 6, 2025, Trilogy Metals Inc. entered a binding agreement with the U.S. Department of War for a strategic investment worth approximately $17.8 million, involving the purchase of 8,215,570 units at $2.17 each to advance exploration of Upper Kobuk Mineral Projects. This investment represents about 10% of the company's outstanding shares; Trilogy will also collaborate with South32 and Ambler Metals on financing the project.