Business
Talon Metals Announces Closing of $11.5 Million Bought Deal Public Offering of Common Shares
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - December 11, 2020) - Talon Metal...
About this update from Talon Metals Corp.
[{"type":"text","content":"Talon Metals Announces Closing of $11.5 Million Bought Deal Public Offering of Common SharesRoad Town, Tortola, British Virgin Islands--(Newsfile Corp. - December 11, 2020) - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Corporation\") announced today the closing of its previously announced bought deal public offering of common shares (the \"Common Shares\") of the Corporation (the \"Offering\"). Pursuant to the Offering, Talon issued 38,334,100 Common Shares at a price of $0.30 per Common Share for aggregate proceeds of $11,500,230, which includes the issuance of 5,000,100 Common Shares pursuant to the full exercise of the over-allotment option by the Underwriters (as defined below).The Offering was conducted by a syndicate of underwriters co-led by Paradigm Capital Inc. (\"Paradigm\") and Sprott Capital Partners LP (\"Sprott\"), and including Echelon Wealth Partners Inc. (collectively with Paradigm and Sprott, the \"Underwriters\"), pursuant to the terms of an underwriting agreement entered into between the Corporation and the Underwriters.The Offering was made in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland, pursuant to a prospectus supplement dated December 3, 2020 (the \"Prospectus Supplement\") to the Corporation's base shelf prospectus dated March 26, 2020.The Corporation intends to use the net proceeds from the Offering for advancing work related to its planned exploration and development program at the Tamarack North Project in Minnesota, and for general working capital purposes, as set out in the Prospectus Supplement.A copy of the Prospectus Supplement relating to the Common Shares is available under the Corporation's profile on SEDAR at www.sedar.com.The Common Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.About TalonTalon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copp...