TMC gains on revised sponsorship agreement with Tonga

** Shares of deep-sea mining company TMC The Metals Company TMC.O rise 9.2% to $6.40 premarket

** Company's subsidiary, Tonga Offshore Mining Limited (TOML) and The Kingdom of Tong, signs revised sponsorship agreement, updating terms of their agreement signed in 2021

** Tonga to receive benefits from any future development of seafloor mineral resources by TOML or another TMC subsidiary

** "It marks an important step toward ensuring that seabed minerals activities contribute meaningfully to Tonga's long-term development goals," says Dr. 'Uhila Moe Langi Fasi, Tonga's Minister for Lands, Survey, Planning and Natural Resources

** Up till last close, stock up 424% YTD