Talon Metals Closes $41 Million Financing Comprised of $25 Million Brokered Private Placement and Concurrent $16 Million Non-Brokered Private Placement

Core Viewpoint - Talon Metals Corp. has successfully closed a total financing of $41 million through a brokered private placement and a concurrent non-brokered private placement to advance its Tamarack Nickel Project and for general corporate purposes [1][2][5]. Group 1: Financing Details - The brokered private placement (LIFE Offering) raised gross proceeds of $25.3 million by issuing 115,000,000 units at a price of $0.22 per unit [1]. - The non-brokered private placement (Non-LIFE Offering) generated gross proceeds of $15.69 million through the issuance of 71,318,184 units at the same offering price [2]. - The total financing amount of $41 million consists of both the LIFE and Non-LIFE offerings [1][2]. Group 2: Unit Structure and Warrant Details - Each LIFE Unit and Non-LIFE Unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at $0.28 for 36 months [4]. - If the closing price of common shares exceeds $0.56 for 20 consecutive trading days, the company may accelerate the expiry date of the warrants [4]. Group 3: Use of Proceeds - The net proceeds from the offerings will be utilized to advance the Tamarack Nickel Project, as well as for general administrative expenses and working capital [5]. Group 4: Participation and Related Party Transactions - Certain directors and affiliates of Pallinghurst Nickel International Ltd. participated in the Non-LIFE Offering, acquiring 6,222,728 units for approximately $1.37 million [3][7]. - Following this acquisition, these parties hold about 0.55% of the issued and outstanding common shares on a non-diluted basis [8]. Group 5: Company Overview - Talon Metals Corp. is a base metals company listed on the TSX, engaged in a joint venture with Rio Tinto on the Tamarack Nickel-Copper-Cobalt Project in Minnesota [10]. - The company currently owns 51% of the Tamarack Nickel Project and has plans to expand its high-grade nickel mineralization resource [10]. - Talon has received significant funding from the US Department of Energy and the US Department of Defense to support its exploration efforts [10].