- The company issued 38,200,000 common shares at a price of $0.72 per share for gross proceeds of approximately $27.5 million
- Talon also completed a non-brokered private placement with Pallinghurst Nickel International for proceeds of approximately $6.4 million
- Net proceeds from the offering and private placement will be used for advancing its exploration and development program at the Tamarack North Project in Minnesota
- Talon Metals is a mineral exploration company
- Shares in Talon Metals Corp. (TLO) opened trading at C$0.63
Talon Metals (TLO) has closed its previously announced bought deal public offering and concurrent private placement.
The company will issue 38,200,000 common shares at a price of $0.72 per share for gross proceeds of approximately $27.5 million.
Talon has granted the underwriters an over-allotment option to purchase up to an additional 5,730,000 shares at any time up to 30 days after the closing of the offering.
Concurrently with the closing of the offering, Talon has completed a non-brokered private placement of approximately $6.4 million of shares with Pallinghurst Nickel International Ltd.
Pallinghurst will maintain its ownership of approximately 19 per cent of Talon Metals.
Net proceeds from the offering and private placement will be used for advancing its exploration and development program at the Tamarack North Project in Minnesota, and for general working capital purposes.
Talon Metals is a mineral exploration company engaged in the exploration and development of the Tamarack nickel-copper-cobalt project in Minnesota.
Shares in Talon Metals Corp. (TLO) opened trading at C$0.63.