Road Town, British Virgin Islands–(Newsfile Corp. – April 6, 2026) – Talon Metals Corp. (TSX: TLO) (OTCID: TLOFF) (“Talon” or the “Company“) announces that the Company is exercising its right to accelerate the expiry of the outstanding common share purchase warrants of the Company (the “Warrants“) issued on June 18, 2025, pursuant to the Company’s brokered private placement and concurrent non-brokered private placement.
As announced by the Company on January 27, 2026, the Company completed the consolidation of its issued and outstanding common shares (the “Common Shares“) on January 23, 2026, on the basis of one post-consolidation Common Share for every 10 pre-consolidation Common Shares (the “Consolidation“).
Following the Consolidation, each Warrant entitles the holder thereof to acquire one Common Share (a “Warrant Share“) at a price of $2.80 per Warrant Share until June 18, 2028, subject to acceleration of the expiry date in accordance with the terms of the Warrants. Pursuant to the terms of the Warrants, in the event that the closing price of the Common Shares on the Toronto Stock Exchange (the “TSX“) (or such other Canadian stock exchange on which the Common Shares are then listed) for 20 consecutive trading days exceeds $5.60, the Company may, within 10 business days of the occurrence of such event, deliver a notice (including by way of a news release) to the holders of the Warrants accelerating the expiry time of the Warrants to 5:00 p.m. (Toronto time) on the date that is 30 days following the date of such notice.
On April 6, 2026, the closing price of the Common Shares on the TSX exceeded $5.60 for 20 consecutive trading days. Pursuant to the terms of the Warrants, the Company hereby provides notice to the holders of the Warrants that the Company is exercising its right to accelerate the expiry of the outstanding Warrants to 5:00 p.m. (Toronto time) on May 6, 2026 (the “Accelerated Expiry Date“) (being the date that is 30 days following the date of this notice).
Any Warrants remaining unexercised after 5:00 p.m. (Toronto time) on the Accelerated Expiry Date will expire and become void and of no further force or effect.
The Company understands that 6,523,651 Warrants remain unexercised and outstanding as at the date of this news release. If all 6,523,651 Warrants are exercised on or prior to the Accelerated Expiry Date, the Company will receive proceeds of $18,266,223 upon payment of the exercise price therefor.
The Warrants (and the underlying Warrant Shares) have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
