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Talon Metals Corp
Symbol C : TLO
Shares Issued 429,106,508
Close 2019-08-13 C$ 0.21
Recent Sedar Documents

Talon Metals arranges overnight offering

2019-08-13 16:01 ET - News Release

Mr. Sean Werger reports

TALON METALS CORP. ANNOUNCES OVERNIGHT MARKETED PUBLIC OFFERING OF COMMON SHARES

Talon Metals Corp. has filed a preliminary short form prospectus in connection with an overnight marketed public offering of common shares for anticipated aggregate gross proceeds of up to approximately $10-million. It is anticipated that the offering price of the common shares will be 17 cents per common share.

The offering is being conducted by a syndicate of underwriters, co-led by Paradigm Capital Inc. and Canaccord Genuity Corp. The preliminary prospectus was filed in each of the provinces of Canada, other than Quebec.

The offering will be made pursuant to the terms of an underwriting agreement to be entered into between the corporation and the underwriters. The underwriting agreement will provide that the corporation will grant the underwriters an option to purchase up to a number of additional common shares equal to 15 per cent of the common shares sold pursuant to the offering, exercisable, in whole or in part, at any time up to 30 days after (and including) the closing date of the offering.

The corporation intends to use the net proceeds from the offering for: (i) advancing work related to its planned exploration and development program at the Tamarack North project in Minnesota; and (ii) general working capital purposes.

Resource Capital Fund VI LP (RCF) has advised the corporation that it intends to acquire approximately 20 per cent of the common shares sold pursuant to the offering. RCF is the largest shareholder of the corporation and currently owns 227,196,154 common shares, representing approximately 53 per cent of the outstanding common shares.

The offering is expected to close on or about Aug. 29, 2019, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange, and the entering into of the underwriting agreement.

About Talon Metals Corp.

Talon is a Toronto Stock Exchange-listed company focused on producing nickel responsibly for the electric vehicle industry. The high-grade Tamarack nickel-copper-cobalt project is located in Minnesota, United States (which comprises the Tamarack North project and the Tamarack South project). The company has a well-qualified exploration and mine management team with extensive experience in project management.

We seek Safe Harbor.

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