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Talon Metals Corp. Announces Overnight Marketed Public Offering of Common Shares
Talon Metals Corp. Announces Overnight Marketed Public Offering of Common Shares C...
About this update from Talon Metals Corp.
[{"type":"text","content":"\n\n\n\nTalon Metals Corp. Announces Overnight Marketed Public Offering of Common Shares\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. 13, 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. 13, 2019 /CNW/ - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Corporation\") is pleased to announce that it has filed a preliminary short form prospectus (the \"Preliminary Prospectus\") in connection with an overnight marketed public offering (the \"Offering\") of common shares (the \"Common Shares\"), for anticipated aggregate gross proceeds of up to approximately $10 million. It is anticipated that the offering price of the Common Shares will be $0.17 per Common Share.\nThe Offering is being conducted by a syndicate of underwriters (the \"Underwriters\"), co-led by Paradigm Capital Inc. and Canaccord Genuity Corp. The Preliminary Prospectus was filed in each of the provinces of Canada, other than the Province of Québec.\nThe Offering will be made pursuant to the terms of an underwriting agreement (the \"Underwriting Agreement\") to be entered into between the Corporation and the Underwriters. The Underwriting Agreement will provide that the Corporation will grant the Underwriters an option (the \"Over-Allotment Option\") to purchase up to a number of additional Common Shares equal to 15% of the Common Shares sold pursuant to the Offering, exercisable in whole or in part at any time up to 30 days after and including the closing date of the Offering.\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.\nResource Capital Fund VI L.P. (\"RCF\") has advised the Corporation that it intends to acquire approximately 20.0% of the Common Shares sold pursuant to the Offering. RCF is the largest ...