Talisker Resources (TSK-Cse) Closes $23 Million Bought Deal PP
Aug 13, '20 - NR
Talisker Resources is pleased to announce that it has closed the bought deal private placement initially announced on July 22, 2020 for total gross proceeds of $23 million (the “Offering”). In connection with the Offering, the Company issued an aggregate of 28,260,870 units (the “Units”) at a price of $0.46 per Unit and 15,625,000 charity flow-through share units (the “FT Units”) of the Company at a price of $0.64 per FT Unit.
Each Unit and FT Unit is comprised of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one common share at an exercise price of $0.70 until August 13, 2021. The Common Shares comprising part of the FT Units will qualify as “flow-through shares” within the meaning of the Income Tax Act (Canada).
The gross proceeds from the sale of FT Units 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 FT Units effective December 31, 2020. The net proceeds from the sale of the Units will be used by the Company for working capital and general corporate purposes.
The Offering was conducted by Sprott Capital Partners and PI Financial Corp. as co-lead underwriters and co-bookrunners (collectively, the “Underwriters”). In connection with the Offering, the Company paid the Underwriters a cash commission of 6.0% of the gross proceeds of the Offering.
The Common Shares and Warrants comprising the Units and FT Units issued pursuant to the Offering, and any Common Shares issued upon the exercise of the 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 (taliskerresources.com) 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 producing gold 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 291,339 hectares over 322 claims, six leases and 181 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. |
