Business
Talon Metals Closes Non-Brokered Private Placement to Progress the Tamarack Project
Road Town, British Virgin Islands--(Newsfile Corp. - May 15, 2019) - Talon Metals Corp. (TSX: ...
About this update from Talon Metals Corp.
[{"type":"text","content":"Talon Metals Closes Non-Brokered Private Placement to Progress the Tamarack ProjectRoad Town, British Virgin Islands--(Newsfile Corp. - May 15, 2019) - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Company\") is pleased to announce the completion of a non-brokered private placement of 20,235,000 common shares at a price of $0.0868 per common share for aggregate gross proceeds of $1.75 million. A finder's fee of 6% cash and 6% warrants (\"Warrants\") are payable in connection with certain orders under the private placement. Each Warrant is exercisable to acquire one common share for a period of 36 months following the closing date at an exercise price of $0.116 per common share. The net proceeds from the private placement will be used by Talon in respect of ongoing test work in advance of an exploration program at the high-grade Tamarack Nickel-Copper-Cobalt Project (the \"Tamarack Project\").\"Taking steps to progress the Tamarack Project now, will increase the likelihood of Talon being ideally positioned for the predicted unprecedented shortage of Class 1 nickel, and will assist with ongoing discussions with battery and vehicle manufacturers,\" said Sean Werger, President of Talon. Following recent meetings held in Washington, D.C. between Talon and the U.S. government, electric vehicle battery and automobile manufacturers at the Benchmark Minerals Summit 2019 (as reported in the Company's press release dated May 7, 2019), the Company has continued to progress discussions with battery and vehicle manufacturers. It should further be noted that there is an opportunity to optimize the value chain for nickel, from the mine to the battery. Presently, nickel in nickel sulphates command a premium to the LME nickel price. The securities offered have not been, and will not be, registered under the United States 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 United States persons absent of registration, or the availability of any applicable exemption from the registration requirement, of the U.S. Securities Act and applicable U.S. state securities laws. This release shall not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, nor shall there be any sale of these securities in ...