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Talisker Announces Further Investment by New Gold and Private Placement of $2 Million
Talisker Announces Further Investment by New Gold and Private Placement of $2 Million ...
About this update from Talisker Resources Ltd.
[{"type":"text","content":"\n \n \n \n Talisker Announces Further Investment by New Gold and Private Placement of $2 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 27, 2021\n \n /CNW/ - Talisker Resources Ltd. (\"\n \n Talisker\n \n \" or the \"\n \n Company\n \n \") (TSX:TSK) (OTCQX:TSKFF) is pleased to announce that New Gold Inc. (\"\n \n New Gold\n \n \") (TSX: NGD) has agreed to acquire an additional 5,200,000 common shares ( \"\n \n Common Shares\n \n \") of the Company pursuant to the exercise of its top-up right in accordance with the terms of the investor rights agreement entered into between the Company and New Gold at the time of its initial investment (see the Company's press release of\n \n March 25, 2021\n \n ), to maintain its 14.9% ownership percentage in the Company.\n \n \n \n \n \n \n \n \n \n \n \n The Company is also pleased to announce a non-brokered private placement to raise total gross proceeds of approximately\n \n $2 million\n \n (the \"\n \n Offering\n \n \"). The Offering will consist of 5,200,000 Common Shares which qualify as \"flow-through shares\" within the meaning of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"\n \n FT Shares\n \n \"), at a price of\n \n $0\n \n .38 per FT Share. Immediately following the completion of the Offering, it is expected that New Gold will acquire the 5,200,000 Common Shares.\n \n \n The gross proceeds from the sale of FT Shares will be used by the Company to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" as such terms are defined in the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"\n \n Qualifying Expenditures\n \n \") related to the Company's projects in\n \n Canada\n \n , including the Bralorne Gold Complex. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effe...