New Talisman Gold Mines has successfully raised $1.8 million through a rights issue, allowing the company to proceed with its strategic plan.
In the 1-for-1 rights issue, 85,104,270 rights were taken up, with an additional 15,036,921 in oversubscriptions.
The company expressed gratitude to its shareholders for their strong support.
New shares will be issued on August 2, 2024.
New Talisman Gold Mines will now accept applications for the shortfall on the same terms as the original rights issue offer, and it has already received firm interest in the shortfall.
The board intends to seek shareholder approval for director participation in the oversubscription/shortfall.
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