General Moly,Inc. (TSE:GMO) Files An 8-K Unregistered Sales of Equity Securities

ME Staff 8-k
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General Moly,Inc. (TSE:GMO) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02. Unregistered Sales of Equity Securities.

On October13, 2017, General Moly,Inc. (the “Company”) and Amer International Group Co.,Ltd. (“Amer”) closed the second of three investment tranches (the “Tranche 2 Closing”) under the Investment and Securities Purchase Agreement dated April17, 2015, as amended by Amendment No.1 dated November2, 2015, Amendment No.2 dated August7, 2017, and Amendment No.3 dated September30, 2017 (the “Purchase Agreement”). In the Tranche 2 Closing, Amer invested $6 million in the Company in exchange for 14,634,146 shares of the Company’s common stock, at a price of $0.41 per share, which represents the volume weighted average price of the Company’s common stock for the 30-day period ending August7, 2017 (the date Amendment No.2 to the Purchase Agreement was executed). The shares of common stock were issued to the exemption from the registration requirements of the Securities Act of 1933, as amended, under Section4(a)(2)and Rule506(b)of Regulation D promulgated thereunder.

As required by the Purchase Agreement, upon the Tranche 2 Closing, the Company is required to deposit $500,000 into a joint account (the “Joint Account”) established to the Expense Reimbursement Agreement dated November24, 2015, between the Company and Amer. The money in the Joint Account is intended to cover anticipated Mt. Hope financing costs and other jointly sourced business development opportunities.

On October16, 2017, the Company issued a press release announcing the completion of the Tranche 2 Closing, a copy of which is attached hereto at Exhibit99.1.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits


General Moly, Inc Exhibit
EX-99.1 2 a17-24037_1ex99d1.htm EX-99.1 Exhibit 99.1     General Moly and its Largest Shareholder,…
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.