General Moly,Inc. (TSE:GMO) Files An 8-K Other Events

General Moly,Inc. (TSE:GMO) Files An 8-K Other Events
Item 8.01 Other Events

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On March13, 2019, General Moly,Inc. (the “Company”) issued a press release announcing that it has retained XMS Capital Partners, Headwall Partners, and Odinbrook Global Advisors (collectively, the “Advisors”), as financial advisors to assist the Board and management with evaluating and recommending strategic alternatives, which may include the sourcing of potential incremental capital financing, sale of interest(s)in the assets of the Company or the Company, or restructuring of the convertible debt issued in a December2014 private placement, which matures in December2019.

The Company also announced that members of management of the Company, led by Chief Executive Officer Bruce D. Hansen, have agreed in principle with the Audit Committee of the Company’s Board of Directors to provide interim incremental liquidity to the Company through a private placement purchase of up to $900,000 of convertible preferred shares of the Company with a 5% annual dividend. The convertible preferred shares will be priced at $100.00 per share, and will be convertible at any time at the holder’s discretion into 370.37 shares of common stock. The conversion price of $0.27 per common share is equal to the closing price of the Company’s common stock on the day before the announcement of the agreement in principle. The transaction, which is anticipated to close by the end of March2019, is subject to the execution of a definitive purchase agreement and approval by the disinterested members of the Board of Directors.

A copy of the press release is attached hereto as Exhibit99.1 to this Current Report on Form8-K.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

General Moly, Inc Exhibit
EX-99.1 2 a19-6655_1ex99d1.htm EX-99.1 Exhibit 99.1     General Moly Board Engages Financial Advisors to Evaluate and Recommend Strategic Alternatives,…
To view the full exhibit click here

About General Moly,Inc. (TSE:GMO)

General Moly, Inc. is engaged in the business of the exploration, development and mining of properties containing molybdenum. The Company, through its subsidiary, Eureka Moly, LLC, holds interest in the Mt. Hope Project, a molybdenum property, located in Eureka County, Nevada. The Mt. Hope Project contains molybdenum reserves totaling approximately 1.4 billion pounds of which 1.2 billion pounds are estimated to be recoverable. It also owns a molybdenum and copper project, the Liberty Project, located in Nye County, Nevada. Its other mining properties include over 100 acres of fee simple land in the Little Pine Creek area of Shoshone County, Idaho; six patented mining claims known as the Chicago-London group, located near the town of Murray in Shoshone County, Idaho; 30 unpatented mining claims in Marion County, Oregon, known as the Detroit property, and 80 unpatented mining claims in Sanders and Madison County, Montana.

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