4 unchanged sentences
laws and policies regulating international trade may adversely impact the Company.
−Removed: The results of the recent election in the United States may result in legislative and regulatory changes that could have a material adverse effect on the Company and its financial condition.
+Added: The activities of the current administration in the United States may result in legislative and regulatory changes that could have a material adverse effect on the Company and its financial condition.
In particular, there is uncertainty regarding U.S.
−Removed: Trilogy Metals Inc.
−Removed: For the Quarter Ended May 31, 2025
−Removed: and support for existing treaty and trade relationships, including with Canada.
+Added: tariffs and support for existing treaty and trade relationships, including with Canada.
Although discussions continue between the United States and other countries, there remains significant uncertainty over whether tariffs or other restrictive trade measures or countermeasures will be implemented and, if so, the scope, impact and duration of any such measures.
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.