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Talon Metals Announces Closing of Its Best Efforts Public Offering of Common Shares
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - August 13, 2020) - Talon Metals ...
About this update from Talon Metals Corp.
[{"type":"text","content":"Talon Metals Announces Closing of Its Best Efforts Public Offering of Common SharesRoad Town, Tortola, British Virgin Islands--(Newsfile Corp. - August 13, 2020) - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Corporation\") announced today the closing of its previously announced best efforts public offering of common shares (the \"Common Shares\") of the Corporation (the \"Offering\"). Pursuant to the Offering, Talon issued 19,821,600 Common Shares at a price of $0.26 per Common Share for aggregate proceeds of $5,153,616, which includes the issuance of 590,800 Common Shares pursuant to the partial exercise of the Agent's over-allotment option.The Offering was conducted by Paradigm Capital Inc. (\"Paradigm\") as sole agent (the \"Agent\") pursuant to the terms of an agency agreement (the \"Agency Agreement\") entered into between the Corporation and the Agent.The Offering was made in each of the provinces of Canada, except Québec, pursuant to a prospectus supplement dated August 6, 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 Talon Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in Minnesota, USA, comprised of the Tamarack North Project and the Tamarack South Project. Talon has an earn-in right to acquire up to 60% of the Tamarack Project. The Tamarack Project comprises a large land position (18km of strike le...