New Talisman Gold Mines closes private placement, raises NZ$1.1m

New Talisman Gold Mines Limited (NTL) announced on September 15, 2025, the closure of a private placement, raising a total of NZ$1,127,313.21. This placement involved the issue of 29,666,137 ordinary shares allotted at NZ$0.038 each. This price reflects a 10% discount to the Volume Weighted Average Price (VWAP) for the 10 days immediately preceding the allotment.

Three of the company's directors participated in the placement, contributing a combined NZ$175,000. The shares were allotted on Monday, September 15, 2025.

According to company secretary Jane Bell, the proceeds generated from this private placement are designated for use as working capital.