New Talisman raises $1.8m through rights issue

New Talisman Gold Mines has raised $1.8 million through a 1-for-1 rights issue.

The company received 85.1m rights applications and an additional 15m applications for extra rights.

In addition, New Talisman made the first allotment of shares under shortfall applications, raising $79,000.

Directors Richard Tacon and Samantha Sharif have confirmed their participation in the shortfall, pending shareholder approval.

The company said it is still accepting applications for the shortfall and may extend or modify the closing date.

After the allotments, New Talisman will have a total of 562.5m shares on issue, with 353.5m shortfall shares available.