Talisker closes final tranche of $23-million financing

Executive Summary

• Talisker Resources Ltd. has closed the final tranche of its previously announced bought deal private placement, bringing the total aggregate gross proceeds to C$23.0 million.
• The final tranche consisted of 3.15 million common shares sold at $1.50 per share, generating $4.725 million in gross proceeds.
• The company intends to use the net proceeds for the advancement of its Bralorne gold project in British Columbia, as well as for general corporate purposes and working capital.

Key Details

• Total Offering Size: Aggregate gross proceeds of $23,000,001 from the sale of 15,333,334 offered shares, including the full exercise of the overallotment option.
• Final Tranche Specifics:
  • Shares sold: 3.15 million common shares.
  • Price per share: $1.50.
  • Gross proceeds from final tranche: $4,725,000.
• Underwriters: Red Cloud Securities Inc. acted as lead underwriter and sole bookrunner. The syndicate included Canaccord Genuity Corp. and FMI Securities Inc.
• Use of Proceeds: Continued advancement of the Bralorne gold project (British Columbia), general corporate purposes, and working capital.
• Underwriter Compensation (Final Tranche):
  • Cash fees: $283,500.
  • Warrants: 189,000 non-transferable common share purchase warrants.
  • Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $1.68.
  • Warrant Expiration: November 6, 2027.
• Hold Periods:
  • Shares issued in Canada (first tranche): Subject to a four-month hold period ending February 25, 2026.
  • Shares issued outside Canada (including final tranche): Not subject to a four-month hold period under applicable Canadian securities laws (issued pursuant to OSC Rule 72-503 exemption).
• Regulatory Basis: Offered shares were sold via private placement exemptions in Canada (except Quebec), the United States (Securities Act of 1933), and other jurisdictions outside Canada and the US.