Talisker Announces Closing of Bought Deal Private Placement
Talisker Announces Closing of Bought Deal
Private Placement
TORONTO
,
Feb. 4, 2020
/CNW/ - Talisker Resources Ltd. ("
Talisker
" or the "
Company
")
(CSE:TSK | OTCQB:TSKFF) is pleased to announce that it has closed the bought deal private
placement initially announced on
January 7, 2020
for total gross proceeds of approximately
$13.1
million
(the "
Offering
"). In connection with the Offering, the Company issued an aggregate of
15,333,320 common shares (the "
Shares
") and 16,161,600 charity flow-through common shares
(the "
Charity FT Shares
") of the Company, which Charity FT Shares will qualify as "flow-through
shares" within the meaning of the
Income Tax Act
(
Canada
), at a price of
$0.33
per Share (the
"
Offering Price
") and
$0.495
per Charity FT Share.
The gross proceeds from the sale of Charity FT Shares will be used by the Company to incur eligible
"Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such
terms are defined in the Income Tax Act (
Canada
) (the "
Qualifying Expenditures
") related to the
Company's projects in
Canada
. All Qualifying Expenditures will be renounced in favour of the
subscribers of the Charity FT Shares effective
December 31, 2020
. The net proceeds from the sale
of the Shares will be used by the Company for working capital and general corporate purposes.
PI Financial Corp. led a syndicate of underwriters, which included Eight Capital, Sprott Capital
Partners and Haywood Securities Inc. (collectively, the "
Underwriters
") in the Offering. In
connection with the Offering, the Company paid the Underwriters a cash commission of 5.0% of the
gross proceeds of the Offering (other than in respect of certain "president's list" purchasers on
which a cash commission equal to 4.0% was paid) and issued to the Underwriters compensation
warrants (the "
Compensation Warrants
") equal to 2.0% of the aggregate number of Shares and
Charity FT Shares sold pursuant to the Offering (other than in respect of certain "president's list"
purchasers on which Compensation Warrants equal to 1.0% of such sales were issued). Each
Compensation Warrant is exercisable to acquire one common share of the Company at the Offering
Price until
February 4, 2022
.
The Shares, Charity FT Shares and Compensation Warrants are subject to a four month hold period
pursuant to applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in
the United States
. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "
U.S. Securities Act
") or any state
securities laws and may not be offered or sold within
the United States
or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
About Talisker Resources Ltd.
Talisker Resources Ltd. is a junior resource company involved in the exploration of gold projects in
British Columbia, Canada
. Talisker's projects include the Bralorne Gold Complex, an advanced stage
project with significant exploration potential from a historical high grade gold producing mine as well
as its Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge
Gold Belt and several other early stage Greenfields projects. With its properties comprising 270,605
hectares over 288 claims, three leases and 154 crown grant claims, Talisker is a dominant
exploration player in the south central
British Columbia
. The Company is well funded to advance its
aggressive systematic exploration program at its projects.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to identify forward-looking information
and are based on Talisker's current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially. In particular, this release contains forward-
looking information relating to, among other things, the use of proceeds from the Offering, the listing
of the common shares of Talisker on the CSE. Various assumptions or factors are typically applied
in drawing conclusions or making the forecasts or projections set out in forward-looking information.
Those assumptions and factors are based on information currently available to Talisker. Although
such statements are based on reasonable assumptions of Talisker's management, there can be no
assurance that any conclusions or forecasts will prove to be accurate.
Forward-looking information contained in this news release is based on certain factors and
assumptions. While Talisker considers these assumptions to be reasonable based on information
currently available to them, they may prove to be incorrect. Forward looking information involves
known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking information. Such factors include risks
inherent in the exploration and development of mineral deposits, including risks relating to changes in
project parameters as plans continue to be redefined, risks relating to variations in grade or
recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply
of minerals, risks related to increased competition and current global financial conditions, access and
supply risks, reliance on key personnel, operational risks regulatory risks, including risks relating to
the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title
and environmental risks and risks relating to the failure to receive all requisite shareholder and
regulatory approvals.
The forward-looking information contained in this release is made as of the date hereof, and Talisker
is not obligated to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable securities laws. Because of
the risks, uncertainties and assumptions contained herein, investors should not place undue reliance
on forward-looking information. The foregoing statements expressly qualify any forward-looking
information contained herein.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the
CSE) accepts responsibility for the adequacy or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved or disapproved the information
contained herein.
SOURCE
Talisker Resources Ltd
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%SEDAR: 00005798E
For further information:
For further information please contact Terry Harbort, Chief Executive
Officer of Talisker, at [email protected]
CO: Talisker Resources Ltd
CNW 09:45e 04-FEB-20