New Talisman raises $280k in private placement

New Talisman Gold Mines has successfully completed a private placement, raising $280,000.

The placement involved the issuance of 5,957,447 ordinary shares to eligible New Zealand investors at a price of $0.047 per share.

This represents a 5% discount to the volume-weighted average price (VWAP) for the 10 days before the placement allotment.

The company said the funds will be used as working capital for the commencement of bulk sampling.