/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
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TORONTO, Oct. 27, 2021 /CNW/ - Talisker Resources
Ltd. ("Talisker" or the "Company") (TSX:TSK)
(OTCQX:TSKFF) is pleased to announce that New Gold Inc. ("New
Gold") (TSX: NGD) has agreed to acquire an additional 5,200,000
common shares ( "Common Shares") of the Company pursuant to
the exercise of its top-up right in accordance with the terms of
the investor rights agreement entered into between the Company and
New Gold at the time of its initial investment (see the Company's
press release of March 25, 2021), to
maintain its 14.9% ownership percentage in the Company.
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The Company is also pleased to announce a non-brokered private
placement to raise total gross proceeds of approximately
$2 million (the "Offering").
The Offering will consist of 5,200,000 Common Shares which qualify
as "flow-through shares" within the meaning of the Income Tax
Act (Canada) (the "FT
Shares"), at a price of $0.38 per FT Share. Immediately following
the completion of the Offering, it is expected that New Gold will
acquire the 5,200,000 Common Shares.
The gross proceeds from the sale of FT Shares 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, including the Bralorne Gold Complex.
All Qualifying Expenditures will be renounced in favour of the
subscribers of the FT Shares effective December 31, 2021.
The Offering is expected to close on or about November 10, 2021. The Offering remains subject
to the approval of the Toronto Stock Exchange. Any securities to be
issued under the Offering will be subject to a hold period of four
months and a day from the closing date of the Offering.
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 two advanced stage projects, the
Bralorne Gold Complex and the Ladner Gold Project, both advanced
stage projects with significant exploration potential from
historical high-grade producing gold mines, 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 296,983 hectares over 346
claims, three leases and 198 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.
Caution Regarding Forward-Looking Information
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on Talisker's current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this
news release contains forward-looking information relating to,
amongst other things, the completion of the Offering, the
completion of New Gold's acquisition of the Common Shares, and the
use of proceeds. Those assumptions and factors are based on
information currently available to Talisker. Although such
statements are based on reasonable assumptions of Talisker's
management, there can be no assurance that any conclusions or
forecasts will prove to be accurate.
While Talisker considers these statements to be reasonable based
on information currently available, they may prove to be incorrect.
Forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include market risks
and the demand for securities of the Company, risks inherent in the
exploration and development of mineral deposits, including risks
relating to changes in project parameters as plans continue to be
redefined, risks relating to variations in grade or recovery rates,
risks relating to changes in mineral prices and the worldwide
demand for and supply of minerals, risks related to increased
competition and current global financial conditions and the
COVID-19 pandemic, access and supply risks, reliance on key
personnel, operational risks, and regulatory risks, including risks
relating to the acquisition of the necessary licenses and permits,
financing, capitalization and liquidity risks.
The forward-looking information contained in this news release
is made as of the date hereof, and Talisker is not obligated to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by applicable securities laws. Because of the risks,
uncertainties and assumptions contained herein, investors should
not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
SOURCE Talisker Resources Ltd