TMC secures $85.2M strategic investment from Korea Zinc; closes June 26

TMC the metals Co Inc.

Korea Zinc to buy 19.6M shares at $4.34 share/unit and receive warrants for 6.9M shares at $7.00, gross proceeds $85.2M.
Korea Zinc becomes ~5% shareholder; gets participation right in future equity offerings and board observer seat.
Partnership includes Korea Zinc evaluating TMC nodule materials for US-based refining and pCAM manufacturing.
TMC pro forma cash ~$120M; PFS expected Q3 2025; commercial recovery permit under NOAA review after Trump exec order.
Warrant term three years with compulsory exercise if TMC shares trade >$10 for 20 consecutive trading days.

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