Talon Metals Corp. Announces Overnight Marketed Public Offering of Common Shares
Talon Metals Corp. Announces Overnight
Marketed Public Offering of Common Shares
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWS WIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
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.
The 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.
The 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.
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 Project in
Minnesota
, and for
general working capital purposes.
Resource 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
shareholder of the Corporation and currently owns 227,196,154 Common Shares representing
approximately 53% of the outstanding Common Shares.
The Offering is expected to close on or about
August 29, 2019
and is subject to certain conditions
including, but not limited to, the receipt of all necessary approvals, including the approval of the
Toronto Stock Exchange (the "TSX"), and the entering into of the Underwriting Agreement.
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
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 Common Shares in
any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Talon
Talon is a TSX-listed company focused on producing nickel responsibly for the electric vehicles
industry. The high-grade Tamarack Ni-Cu-Co Project is located in
Minnesota, USA
(which
comprises the Tamarack North Project and the Tamarack South Project). The Corporation has a
well-qualified exploration and mine management team with extensive experience in project
management.
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 Corporation. Such forward-looking statements include
statements relating to the anticipated pricing and size of the Offering, the anticipated closing date of
the Offering, the anticipated use of the net proceeds from the Offering, the intention of RCF to
acquire Common Shares pursuant to the Offering, the entering into of the Underwriting Agreement
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 substantially 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 securities 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.
SOURCE
Talon Metals Corp.
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For further information:
For additional information on Talon, please visit the Corporation's website
at www.talonmetals.com or contact: Sean Werger, President, Talon Metals Corp., Tel: (416) 361-
9636 x102, Email: [email protected]
CO: Talon Metals Corp.
CNW 15:54e 13-AUG-19