Figure 1: General Moly’s Partners for Mt. Hope

General Moly’s Partners for Mt. Hope

i. Source for AMER background: Fortune, Forbes & AMER’s website.
* See End Notes at the bottom of the page.

Figure 2: Strategic Partner and Largest Shareholder: AMER

Figure 3: Key Investment Terms with AMER

Figure 4: Joint Business Development with AMER

End Notes  Under the Amended Investment Agreement with AMER, which was most recently amended in August 2017, the Company and AMER accelerated and closed the Tranche 2 private placement of $6.0 million for 14.6 million common shares of General Moly priced at $0.41 per share in October 2017.

A sum of $5.5 million of the Tranche 2 proceeds is allocated to general corporate purposes and $0.5 million are directed to the existing expense reimbursement account to cover costs related to Mt. Hope Project financing and other jointly sourced business development opportunities.

Also in the August 2017 Amended Investment Agreement, the Company and AMER modified the Tranche 3 $10.0 million private placement which calls for the purchase of 20.0 million common shares amending certain conditions related to completion of Tranche 3.

The Tranche 3 private placement for $10.0 million of General Moly common shares, priced at $0.50, is conditioned on the receipt of water permits from the Nevada State Engineer or the earlier close of a joint business opportunity involving use of 10.0 million shares of General Moly common stock.  A sum of $9.5 million will be directed to general corporate purposes and $0.5 million will be allocated to the expense reimbursement account described above.

The Company received $4M under the Tranche 1 equity investment closed in November 2015 ($2M restricted to fund the expense reimbursement account to fund joint business opportunities and Bank Loan expenses, and $2M for general corporate use).

In addition to 13 million GMO shares priced at $0.30 per share, AMER also received warrants to purchase 80M shares at an exercise price of $0.50 per share ($40M if fully exercised). These warrants have since been extended to the earlier of the 60-month anniversary of Loan drawdown or third anniversary of the reissuance of the Record of Decision for the Mt. Hope Project. The number of warrants and exercise price were unchanged.