Talisker Resources Ltd (OTCMKTS:TSKFF) (TSX:TSK) Announces Bought Deal Private Placement: Stock Flat
Shares of Talisker Resources Ltd (OTCMKTS:TSKFF) (TSX:TSK) ended flat in the previous session.
Market Stats
On Monday, TSKFF stock fell 0.37% to $0.2130 with more than 21K shares, compared to its average volume of 67K shares. The stock moved within a range of $0.2126 – 0.2218 after opening trading at $0.2126.
Talisker Announces $12.5 Million Bought Deal Private Placement
Junior resource company involved in the exploration of gold projects in British Columbia, Canada, Talisker Resources Ltd (OTCMKTS:TSKFF) (TSX: TSK) on February 7, 2022 announced entering into agreement with Sprott Capital Partners LP as lead underwriter as well as PI Financial Corp as co-lead underwriter.
Underwriters have accepted on purchasing 28,000,000 common shares as well as 15,493,000 charity flow-through shares, which Charity FT Shares will be qualifying as “flow-through shares.
The sale price will be $0.25 per Share and Charity FT Shares will be selling at price of $0.355 per Charity FT Share, aggregating to gross proceeds of $12,500,015.
The firm also permitted Underwriters option to cover over-allotments enabling Underwriters to offer extra 20% of offered securities. Option can be exercised in part or whole before the date i.e three business days before closing date of the offering.
Gross proceeds from sale will be harnessed by the firm in incurring eligible “Canadian exploration expenses”. All qualifying expenditures will be renounced favouring subscribers of Charity FT Shares effective December 31, 2022. Net proceeds from share sale would be utilised for working capital as well as general corporate purposes.
Expected to close by March 2, 2022 agreed between the firm and Underwriters and subject to some conditions, including the approval of Toronto Stock Exchange. The firm has accepted paying cash commission of 6.0% of the gross proceeds.
Traders Corner
TSKFF stock is trading below the 20-Day and 50-Day Moving averages of $0.2248 and $0.23.54 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.2432.
