Toronto-listed Talon Metals has raised $30-million on a bought-deal basis to advance work related to the planned exploration and development programme at the Tamarack North project, in Minnesota.
The company is in a joint venture with Rio Tinto and has the right to earn up to 60% of the Tamarack nickel/copper/cobalt project.
Talon entered into an agreement with a syndicate of underwriters led by TD Securities, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 50-million units at $0.60 each,
The company has granted the underwriters the option buy up to an additional 7.5-million units.