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New Gold to make strategic investment in Talisker Resources

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(Kitco News) - Talisker Resources (TSX:TSK | OTCQX:TSKFF) announced Thursday that New Gold (TSX:NGD) is expected to acquire a 14.9% interest in Talisker. 

The company also announced a non-brokered private placement to raise total gross proceeds of up to $19.1 million. Immediately following the completion of the offering, it is expected that New Gold will acquire 37,366,932 common shares, which will provide New Gold with a 14.9% interest in the company on a pro forma basis.

"As one of Canada's leading gold producers and with a prominent position in south-central BC, we are pleased to welcome New Gold as a strategic investor in our company," commented CEO Terry Harbort. “New Gold is a natural regional partner for Talisker and their investment highlights the potential synergies for both companies and is a strong endorsement of our corporate strategy and the potential of Bralorne and our other greenfield projects. We are excited to embark on this relationship with New Gold."

Talisker is a junior resource company involved in the exploration of gold projects in British Columbia, Canada. Talisker's projects include the Bralorne gold complex, an advanced stage project with significant exploration potential from a historical high-grade producing gold mine as well as its Spences Bridge project where the company holds ~85% of the emerging Spences Bridge Gold Belt and several other early-stage greenfield projects.

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