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Talon Metals Corp. announces closing of its overnight marketed offering
Talon Metals Corp. announces closing of its overnight marketed offering Canada New...
About this update from Talon Metals Corp.
[{"type":"text","content":"\n\n\n\nTalon Metals Corp. announces closing of its overnight marketed offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nROAD TOWN, Tortola, British Virgin Islands, Aug. 29, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n ROAD TOWN, Tortola, British Virgin Islands, Aug. 29, 2019 /CNW/ - Talon Metals Corp. (TSX:TLO) (\"Talon\" or the \"Corporation\") announced today the closing of its previously announced overnight marketed public offering of 65,222,300 common shares of the Corporation (collectively, the \"Common Shares\") at a price of $0.17 per Common Share for aggregate gross proceeds of $11,087,791, which includes the issuance of 6,398,770 Common Shares pursuant to the partial exercise of the underwriters' over-allotment option (the \"Offering\"). \nThe Offering was underwritten by a syndicate co-led by Paradigm Capital Inc. and Canaccord Genuity Corp. and including Leede Jones Gable Inc. \nThe 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 described in the final short form prospectus filed on August 22, 2019.\nResource Capital Fund VI L.P. (\"RCF\") acquired 11,764,800 Common Shares pursuant to the Offering. RCF is the largest shareholder of the Corporation and based on information available to the Corporation, upon the closing of the Offering RCF now owns 238,960,954 Common Shares representing approximately 48.3% of the issued and outstanding Common Shares of the Corporation.\nThe Common Shares were offered by way of a short form prospectus filed in all of the provinces of Canada, other than the Province of Québec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. 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 ...