Business
Talon Metals Announces Closing of $37 Million Bought Deal Public Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED S...
About this update from Talon Metals Corp.
[{"type":"text","content":"Talon Metals Announces Closing of $37 Million Bought Deal Public OfferingNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATIONIN THE UNITED STATES.Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - November 16, 2022) - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Corporation\") is pleased to announce today the closing of its previously announced bought deal public offering of common shares (the \"Shares\") of the Corporation (the \"Offering\"). Pursuant to the Offering, Talon issued an aggregate of 75,231,237 Shares, including 8,831,237 Shares issued upon the partial exercise of the Over-Allotment Option granted to the Underwriters (as defined below) in connection with the Offering, at a price of $0.49 per Share (the \"Issue Price\") for aggregate gross proceeds of $36,863,306.13.The Offering was conducted by a syndicate of underwriters led by TD Securities Inc. (the \"Lead Underwriter\") and including BMO Capital Markets, RBC Capital Markets, Canaccord Genuity Corp., Paradigm Capital Inc., Sprott Capital Partners LP, and Stifel GMP (collectively with the Lead Underwriter, the \"Underwriters\"), pursuant to the terms of an underwriting agreement entered into between the Corporation and the Underwriters on November 9, 2022 (the \"Underwriting Agreement\").The Corporation intends to use a significant amount of 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 (as defined below).The Offering remains subject to final approval of the Toronto Stock Exchange (the \"TSX\").The Shares were qualified for distribution pursuant to a prospectus supplement dated November 9, 2022 filed in each of the provinces of Canada other than Quebec (the \"Prospectus Supplement\") under the Corporation's base shelf prospectus dated December 7, 2021 and were sold in the United States to Qualified Institutional Buyers (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the \"1933 Act\") by way of private placement pursuant to an exemption from the registration requirements of the 1933 Act. A copy of the Prospectus Supplement and the Underwriting Agreement are available under the Corporation's profile...