Overview

• Korea Zinc’s $85.2 million private placement includes 19.6 million common shares at $4.34 each and a three-year warrant for 6.9 million shares at $7.00 apiece.
• When the transaction closes on June 26, Korea Zinc will hold roughly 5% of TMC’s outstanding shares, making it one of the company’s largest strategic stakeholders.
• The partners plan to process polymetallic nodules into refined nickel, cobalt, copper foil and precursor cathode active materials through facilities in South Korea and potentially the U.S.
• Korea Zinc intends to operate a comprehensive nickel smelting facility by 2027 to feed TMC’s vertically integrated supply chain outside of China’s control.
• TMC is awaiting a commercial seabed mining permit from NOAA, with its review fast-tracked by President Trump’s executive order earlier this year.