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Talisker Announces Gold-Linked Note Closing

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Talisker Resources Ltd. ("Talisker" or the "Company") (TSX:TSK, OTCQX:TSKFF) announces that further to the Company's press release of October 9, 2024, the non-brokered private placement (the "Gold-Linked Note Financing") of gold-linked notes ("Notes") has closed with $1,332,000 of Notes being issued. Proceeds from the Gold-Linked Note Financing will be used to continue advancement of the Company's flagship Bralorne Gold Project in British Columbia and for general corporate purposes. Additional details on the Gold-Linked Note Financing are included below.

Gold Linked Note Financing

The Notes represent a senior unsecured obligation of the Company and are not convertible into shares of the Company.

The Notes bear interest at a rate of 15% per annum and will mature on December 31, 2027.  

The principal amount of the Notes will be used to calculate the quantity of gold (the "Gold Quantity") to be represented by the Notes, being the deemed number of ounces of gold using a price (the "Floor Price") of US$2,500. The Gold Quantity will be reduced on each of December 31, 2025, December 31, 2026, and December 31, 2027, by that number of ounces that represents 15%, 25% and 60%, respectively, of the Gold Quantity on the closing of the Gold-Linked Note Financing, by the payment of the Deemed Value of such Gold Quantity. The "Deemed Value" means the applicable Gold Quantity multiplied by the Gold Price (the "Gold Price" being the greater of: (a) the Floor Price; and (b) the "London Gold Fix" price per ounce (in U.S. dollars) as of the 15th day of the month of such payment date).

Interest shall be calculated and payable quarterly in arrears, with the interest payable being calculated based on the Deemed Value of the Gold Quantity on the applicable interest payment ...