The Government of Nauru and TMC’s subsidiary, Nauru Ocean Resources Inc. (NORI), signed a revised Sponsorship Agreement updating the terms of their agreement signed in 2017The President of Nauru welcomes the new agreement which will ensure that Nauruans will receive benefits from any future development of seafloor mineral resources from NORIThe Republic of Nauru has played a leading role in the development of the seafloor minerals industry, advancing the rights of Developing States to ensure their participa ...

The financing is led by Michael Hess, Chief Investment Officer of Hess Capital, and Brian Paes-Braga, Managing Partner at SAF Group and Head of SAF GrowthIt comprises a Registered Direct Offering at $3.00 per share and warrants exercisable at $4.50 per share, with mandatory exercise if shares trade above $7.00 per share for 20 consecutive daysProceeds are expected to be sufficient to fund operations through the potential issuance of a commercial recovery permitThe investor group brings decades of experience ...