TMC the metals company Inc. (NASDAQ:TMC) secures an $85.2 million strategic investment from Korea Zinc for deep-sea mineral development. Korea Zinc will acquire 19.6 million common shares at $4.34 per share and receive a 3-year warrant for 6.9 million shares at $7.00 per share. TMC explores polymetallic nodules on the seafloor in California.

The investment from Korea Zinc allows TMC to advance its deep-sea mineral development initiatives. The agreement includes the purchase of common shares and warrants, with Korea Zinc acquiring 19.6 million shares at $4.34 per share and receiving a 3-year warrant for 6.9 million shares at $7.00 per share. TMC focuses on collecting and refining polymetallic nodules found on the seafloor in California.

Read more at Yahoo Finance: TMC Secures $85.2M Strategic Investment from Korea Zinc to Advance Deep-Sea Mineral Development