Early Warning Report in respect of TDG Gold Corp.
TORONTO, April 11, 2022 /CNW/ - Talisker Resources Ltd. ("Talisker" or the "Company") (TSX: TSK) (OTCQX: TSKFF) is issuing this press release pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers in connection with the filing of an Early Warning Report in respect of the disposition of common shares ("Shares") of TDG Gold Corp. ("TDG").
On April 7, 2022, the Company sold 2,846,000 Shares at a price of $0.45 per Share and on April 11, 2022, the Company sold 55 Shares at a price of $0.475 resulting in aggregate gross proceeds of $1,280,726. The sales were facilitated through the facilities of the TSX Venture Exchange. Prior to such sales, the Company held 14,230,278 Shares, representing approximately 14.8% of the issued and outstanding Shares. Following such sales, the Company holds a total of 11,384,215 Shares, representing approximately 11.8% of the 96,343,142 issued and outstanding Shares as of the date of this press release.
The sales of Shares were undertaken as a monetization strategy of the Company. The Company will evaluate its investment in TDG from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease its shareholdings through market transactions, private agreements, or otherwise, subject to and in accordance with the terms of the investor rights agreement dated December 11, 2020 (the "Investor Rights Agreement") between the Company and the Issuer. Other than exercising its board nomination rights in accordance with the Investor Rights Agreement, it currently has no other plans or intentions with respect to TDG's board of directors.
An Early Warning Report in respect of the disposition of Shares will be filed under TDG's profile on SEDAR at www.sedar.com, and may also be obtained by contacting Charlotte May at 416 471 3366. The Company's head office is located at 350 Bay Street, Suite 400, Toronto, Ontario M5H 2S6. TDG's head office is located at Unit 1 – 15782 Marine Drive, White Rock, British Columbia V4B 1E6.
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 299,789 hectares over 484 claims, three leases and 197 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.
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 release contains forward-looking information relating to, among other things, the Company's plans and future intentions with respect to its investment in TDG and exercise of its board nomination rights. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. 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.
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 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, access and supply risks, reliance on key personnel, operational risks regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks and risks relating to the failure to receive all requisite shareholder and regulatory approvals.
The forward-looking information contained in this 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.
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SOURCE Talisker Resources Ltd
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