TALON METALS ANNOUNCES RESULTS OF AGM
Road Town, Tortola, British Virgin Islands (June 22, 2023) – Talon Metals Corp. (“Talon” or the “Company”) (TSX: TLO) is pleased to announce the results of its annual and special meeting of shareholders (“AGM”) held today.
All of the nominee directors listed in Talon’s management information circular dated May 23, 2023 were elected as directors. The results of the shares voted in respect of the election of each director were as follows:
Furthermore at the AGM, shareholders of the Company:
- by a majority of votes cast by the disinterested shareholders, approved the continuation of the shareholder rights plan of the Company;
- voted in favour of authorizing the Company to effect a consolidation of the common shares of the Company on the basis of one (1) post-consolidation common share of the Company for up to ten (10) pre-consolidation common shares, as determined by the directors of the Company, in their sole discretion; and
- voted in favour of appointing MNP LLP as auditors of the Company for the ensuing year and authorizing the directors to fix their remuneration.
For greater certainty and notwithstanding the foregoing, the directors of the Company have not yet determined to effect the consolidation and may elect not to proceed with the consolidation, in their sole discretion (subject to fiduciary and statutory duties). The directors will continue to assess market conditions and the interests of the Company and shareholders before proceeding to effect the consolidation, if at all. To be effective, the consolidation must also be approved by the Toronto Stock Exchange.
Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon’s shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land position (18km of strike length) with high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project, and currently owns 51%. Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators, and (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex. Talon has an agreement with Tesla Inc. to supply it with 75,000 metric tonnes (165 million lbs) of nickel in concentrate (and certain by-products, including cobalt and iron) from the Tamarack Nickel Project over an estimated six-year period once commercial production is achieved. Talon has a neutrality and workforce development agreement in place with the United Steelworkers union. Talon’s Battery Mineral Processing Facility in Mercer County was selected by the US Department of Energy for $114m funding grant from the Bipartisan Infrastructure Law. Talon has well-qualified experienced exploration, mine development, external affairs and mine permitting teams
For additional information on Talon, please visit the Company’s website at www.talonmetals.com or contact:
Tel: (416) 361-9636 x102