Nautilus Minerals

Nautilus Minerals signed a subscription agreement with two major shareholders for up to $20-million (U.S.) in bridge financing and announced a restructuring of the Solwara 1 project.

Nautilus Minerals reported unaudited Q2 2016 results, holding $51.3-million (U.S.) in cash as at June 30, 2016, while seeking further Solwara 1 financing.

Nautilus Minerals filed an NI 43-101 technical report on SEDAR for TOML's Clarion Clipperton Zone polymetallic nodule project.

Nautilus Minerals is still seeking bridge and project financing to continue developing the Solwara 1 seafloor mining project.

Nautilus Minerals reported AGM voting results from its Toronto meeting, where 26.28 per cent of issued shares were represented and all resolutions passed.

A. Geoffrey Loudon is retiring as Nautilus Minerals chairman and will not stand for re-election at the June 1, 2016 AGM, with Russell Debney becoming interim chairman.

Tonga Offshore Mining Ltd, a Nautilus Minerals subsidiary, upgraded its Clarion-Clipperton Zone polymetallic nodule mineral resource to 685.3 million tonnes inferred, 68.1 million tonnes indicated and 2.6 million tonnes measured.

Nautilus Minerals reported unaudited Q1 2016 financial results showing $47.5 million in cash as of March 31, 2016, alongside progress on its Solwara 1 seafloor production equipment.

Loews Corp acquired 34,972,795 Nautilus Mineral shares on April 8, 2016 in a rights offering, then later sold enough shares to fall below 10 per cent ownership.

Nautilus Minerals closed its rights offering, raising gross proceeds of $28,263,829.65 through the issuance of 188,425,531 common shares.