TMC revises Nauru sponsorship, issues 9.1M warrants; hires Hess with large equity awards

TMC the metals Co Inc.

Revised Sponsorship Agreement with Nauru guarantees financial benefits from commercial production; warrant issued for 9,146,268 shares at $4.72.
Services agreement with Michael Hess provides up to 7.5M RSUs, 7.5M stock options (exercise $4.66), and potential 2.5M additional options.
Hess eligible to invest up to $25M in next public capital raise; company recently announced $37M registered direct offering.
Shareholders approved 8 directors, Ernst & Young as auditor, and article amendment to update registered office address.
Agreement acknowledges ISA delays in adopting exploitation regulations; Nauru commits to continued sponsorship.

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