Business
Talon Metals Corp. announces sizing of $10 million overnight marketed offering
Talon Metals Corp. announces sizing of $10 million overnight marketed offering Can...
About this update from Talon Metals Corp.
[{"type":"text","content":"\n\n\n\nTalon Metals Corp. announces sizing of $10 million 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. 14, 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. 14, 2019 /CNW/ - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Corporation\") is pleased to announce that it has sized its overnight marketed public offering of common shares (the \"Offering\") at $10 million pursuant to the terms of an underwriting agreement (the \"Underwriting Agreement\") entered into today between the Corporation and a syndicate of underwriters co-led by Paradigm Capital Inc. and Canaccord Genuity Corp. and including Leede Jones Gable Inc. (collectively, the \"Underwriters\"). The Corporation has agreed with the Underwriters to sell 58,823,530 common shares (each a \"Common Share\") at a price of $0.17 per Common Share for aggregate gross proceeds of approximately $10 million.\n\n \n \n\n \nTalon will file an amended and restated preliminary short form prospectus in each of the provinces of Canada, other than the Province of Québec, amending and restating the preliminary short form prospectus filed on August 13, 2019 to reflect the terms of the Offering. \nPursuant to the Underwriting Agreement, the Corporation has granted the Underwriters an option (the \"Over-Allotment Option\") to purchase up to 8,823,530 additional Common Shares, 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, as described in the prospectus.\nResource Capital Fund VI L.P. (\"RCF\") has advised the Corporation that it intends to acquire approximately 20.0% of the Common Shares sold pur...