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Talon Metals Announces Closing of $34.5 Million Bought Deal Public Offering of Units
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - March 18, 2021) - Talon Metals C...
About this update from Talon Metals Corp.
[{"type":"text","content":"Talon Metals Announces Closing of $34.5 Million Bought Deal Public Offering of UnitsRoad Town, Tortola, British Virgin Islands--(Newsfile Corp. - March 18, 2021) - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Corporation\") announced today the closing of its previously announced bought deal public offering of units (the \"Units\") of the Corporation (the \"Offering\"). Pursuant to the Offering, Talon issued 57,500,000 Units at a price of $0.60 per Unit (the \"Issue Price\") for aggregate gross proceeds of $34,500,000, which includes the issuance of 7,500,000 Units pursuant to the full exercise of the over-allotment option by the Underwriters (as defined below).Each Unit consists of one common share of Talon (a \"Common Share\") and one-half of a Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\") of Talon. Each Warrant entitles the holder to acquire one Common Share at a price of $0.80 until March 18, 2022.The Offering was conducted by a syndicate of underwriters with TD Securities Inc. as sole book runner and including Paradigm Capital Inc., Sprott Capital Partners LP and Echelon Wealth Partners Inc. (collectively, the \"Underwriters\"), pursuant to the terms of an underwriting agreement entered into between the Corporation and the Underwriters.The Offering was made in all provinces of Canada (excluding Quebec), pursuant to a short form prospectus dated March 11, 2021 (the \"Prospectus\").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.A copy of the Prospectus is available under the Corporation's profile on SEDAR at www.sedar.com.The securities offered in the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation...