Wednesday, November 28th 01:24 PM IST

New Talisman Gold raises $1.2 million via rights issue

# New Talisman Gold  # ASX: NLT  # Gold Mining  # Gold  # Mining  

The offer, which included an attaching five year option, was fully underwritten by Canaccord Genuity (Australia) and in total has raised $1.2 million.

AUCKLAND(BullionStreet): New Talisman Gold Mines (ASX: NLT) has issued 93.5 million shares at A$0.01 each raising more than $935,000 under its recent one for three renounceable rights issue.

The offer, which included an attaching five year option, was fully underwritten by Canaccord Genuity (Australia) and in total has raised $1.2 million.

New Talisman also issued 93.5 million attaching options, which can be converted to fully paid shares until 28 November 2017 on payment of the exercise price of $0.02.

The funds raised will be used to advance the Talisman Gold Project in New Zealand through pre-feasibility, including a project development study.

New Talisman has completed a review of the scoping study undertaken by Mining One on the Talisman Project and has begun a pre-feasibility study. Completion of the pre-feasibility study is slated for the end of March 2013.

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