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American Ocean Minerals (AOM), which was formed earlier this year, aims to extract and then refine so-called polymetallic nodules which are strewn.
American Ocean Minerals will merge with Odyssey Marine Exploration in a US$1 billion all-stock deal.
KEY POINTS
- The merged company will control multiple Cook Islands exploration licenses and assets from CIC Limited.
- AOM has requested two international mining licenses in the Clarion-Clipperton Zone, challenging the International Seabed Authority.
- Institutional investors will provide $225 million in new funding, with Mike Rowe as a major investor.
- The new company will trade on Nasdaq under the ticker 'AOMC' after the deal closes, expected by August.
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