TMC the metals company Inc. announces that it has entered into a Securities Purchase Agreement with Korea Zinc Company, Ltd. to issue 19,623,376 common shares at a price of $4.34 per share for gross proceeds of $85,165,451.84 and and an accompanying warrant to purchase up to an aggregate of 6,868,181 common share. The Warrant is exercisable immediately, will have a term of three years from the date of issuance, and an initial exercise price of $7.00 per share on June 16, 2025. The closing under the Purchase Agreement is expected to occur on June 26, 2025.
Korea Zinc Inc is a Korea-based company principally engaged in the manufacture and distribution of non-ferrous metal products. The Company’s non-ferrous metal products consist of precious metal products, including gold and silver products, and zinc products, including zinc slab ingots, zinc alloy jumbo blocks, zinc anode ingots and zinc die-casting ingots. Through its subsidiaries the Company also engages in the distribution of non-ferrous metals, supply of electricity, gas and steam, provision of storage and transportation services, collection and transport of waste, and operation of other businesses. The Company distributes its products in domestic and overseas markets.
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