NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
Road Town, Tortola, British Virgin Islands (August 14, 2019) – Talon Metals Corp. (TSX: TLO) (“Talon” or the “Corporation”) is pleased to announce that it has sized its overnight marketed public offering of common shares (the “Offering”) at $10 million pursuant to the terms of an underwriting agreement (the “Underwriting Agreement”) entered into today between the Corporation and a syndicate of underwriters co-led by Paradigm Capital Inc. and Canaccord Genuity Corp. and including Leede Jones Gable Inc. (collectively, the “Underwriters”). The
Corporation has agreed with the Underwriters to sell 58,823,530 common shares (each a “Common Share”) at a price of $0.17 per Common Share for aggregate gross proceeds of approximately $10 million.
Talon will file an amended and restated preliminary short form prospectus in each of the provinces of Canada, other than the Province of Québec, amending and restating the preliminary short form prospectus filed on August 13, 2019 to reflect the terms of the Offering.
Pursuant to the Underwriting Agreement, the Corporation has granted the Underwriters an option (the “Over-Allotment Option”) to purchase up to 8,823,530 additional Common Shares, 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, as described in the prospectus.
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”).
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.
For additional information on Talon, please visit the Corporation’s website at
www.talonmetals.com