The Metals Royalty Company, a Canadian critical metals and mineral royalty acquirer with one asset in the Pacific Ocean, announced this morning that its shares are expected trading to commence on the Nasdaq today, 4/8, following the effectiveness of its registration statement.
The company registered 55.1 million shares for sale by existing stockholders. It will not raise new capital in the listing.
The Metals Royalty Co. is engaged in the acquisition and management of critical metals and mineral royalties, streams, and other similar interests. The company's core and only asset is the NORI Royalty, a 2.0% gross overriding royalty on the NORI Property, which is a polymetallic nodule project being developed by The Metals Company in the Clarion-Clipperton Zone of the north-east Pacific Ocean that is not currently permitted for commercial production. To date, the company has not received any royalty revenue from the NORI Royalty.
The Calgary, Canada-based company will trade on the Nasdaq under the symbol TMCR. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Stifel will serve as a financial advisor.
