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Talon Metals Announces $10 Million Bought Deal Public Offering of Common Shares
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - December 1, 2020) - Talon Metals...
About this update from Talon Metals Corp.
[{"type":"text","content":"Talon Metals Announces $10 Million Bought Deal Public Offering of Common SharesRoad Town, Tortola, British Virgin Islands--(Newsfile Corp. - December 1, 2020) - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Corporation\") is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Paradigm Capital Inc. and Sprott Capital Partners LP (collectively, the \"Underwriters\") pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 33,334,000 common shares of the Corporation (the \"Common Shares\") at a price of $0.30 per Common Share (the \"Issue Price\") for aggregate gross proceeds of $10,000,200 (the \"Offering\").The Offering is expected to be conducted in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland, pursuant to a prospectus supplement to the Corporation's base shelf prospectus dated March 26, 2020.The Corporation has granted the Underwriters the option (the \"Over-Allotment Option\") to purchase up to an additional 5,000,100 Common Shares at the Issue Price, exercisable in whole or in part at any time up to 30 days after the closing of the Offering.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.The Offering is expected to close on or about December 11, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange (the \"TSX\").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 a...