Talon Metals Announces $30 Million Bought Deal Public Offering
Talon Metals Announces $30 Million Bought Deal
Public Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
ROAD TOWN, British Virgin Islands, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Talon Metals Corp.
(TSX: TLO) (“ Talon” or the “ Corporation”) is pleased to announce that the Corporation has
entered into an agreement with a syndicate of underwriters led by TD Securitie s Inc. (the “Sole
Bookrunner” and collectively the “ Underwriters”) pursuant to which the Underwriters have
agreed to purchase, on a bought deal basis, 50,000,000 units of the Corporation (the “Units”) at
a price of $0.60 per Unit (the “ Issue Price”) for aggregate gross proceeds of $30,000,000 (the
“Offering”). Each Unit will consist of one common share of Talon (a “Common Share”) and one-
half of a share purchase warrant (a “Warrant”) of the Corporation. Each whole Warrant will entitle
the holder to acquire one Common Share at a price of $0.80 for a period of 12 months following
closing of the Offering.
The Corporation has granted the Underwriters the option (the “ Over-Allotment Option ”) to
purchase up to an additional 7,500,000 Units 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 P roject in Minnesota,
and for general working capital purposes.
The Offering is expected to close on or about March 18, 2021 and is subject to certain conditions
including, but not limited to, the receipt of all necessary approvals, including the approval o f the
Toronto Stock Exchange (the “TSX”).
The securities to be issued under the Offering will be offered by way of a short form prospectus
in each of the Provinces of Canada other than Quebec and may be offered for sale in the United
States to Qualified In stitutional Buyers (as defined in Rule 144A under the United States
Securities Act of 1933, as amended (the "1933 Act") by way of private placement pursuant to an
exemption from the registration requirements of the 1933 Act.
The securities have not been an d will not be registered under the 1933 Act, 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 securities 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 and the Tamarack South Project. Talon has an earn-in to acquire up to 60% of the
Tamarack Project. The Tamarack Project comprises a large land position (18km of strike length)
with numerous high -grade intercepts outside the current resource area. Talon is focused on
expanding its current high -grade nickel mineralization resource prepared in accordance with NI
43-101; identifying additional high -grade nickel mineralization; and developing a process to
potentially produce nickel sulphates responsibly for batteries for the electric vehicles industry.
Talon has a well-qualified exploration and mine management team with extensive experience in
project management.
For additional information on Talon, please visit the Company’s website
at www.talonmetals.com or contact:
Sean Werger
President
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email: [email protected]
Forward-Looking Statements
This news release contains certain “forward -looking statements”. All statements, other than
statements of historical fact that address activities, events or developments that the Corporation
believes, expects or anticipates will or may occur in the future are forward -looking statements.
These forward-looking statements reflect the current expectations or beliefs of the Corporation
based on information currently available to the Corporatio n. Such forward -looking statements
include statements relating to the anticipated closing date of the Offering, the anticipated use of
the net proceeds from the Offering and the receipt of all necessary approvals, including the
approval of the TSX. Forward-looking statements are subject to significant risks and uncertainties
and other factors that could cause the actual results to differ materially from those discussed in
the forward -looking statements, and even if such actual results are realized or substa ntially
realized, there can be no assurance that they will have the expected consequences to, or effects
on the Corporation.
Any forward-looking statement speaks only as of the date on which it is made and, except as may
be required by applicable securitie s laws, the Corporation disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information, future events or
results or otherwise. Although the Corporation believes that the assumptions inherent in the
forward-looking statements are reasonable, forward -looking statements are not guarantees of
future performance and accordingly undue reliance should not be put on such statements due to
the inherent uncertainty therein.