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Message: TLH closes finance
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Press Release - Talison Lithium Limited February 10, 2011 11:35:00 AM
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Not for distribution to United States newswire services or for dissemination in the United States Perth, Western Australia, February 10, 2011: TALISON LITHIUM LIMITED (TSX:TLH) ("Talison") is pleased to announce that it has closed the previously announced bought deal financing for aggregate gross proceeds of CAN$69,569,500. The financing was completed by a syndicate of underwriters led by Cormark Securities Inc. and including Scotia Capital Inc., Haywood Securities Inc. and Byron Securities Limited (collectively the "Underwriters") whereby the Underwriters purchased, on a bought deal basis, 10,703,000 ordinary shares (the "Shares") of Talison at a purchase price of CAN$6.50 per Share (the "Offering"). Talison has granted the Underwriters an option (the "Over-Allotment Option") to purchase up to an additional 1,605,000 ordinary shares (representing 15% of the Offering) at the offering price for aggregate gross proceeds of CAN$10,432,500. The Over-Allotment Option is exercisable in whole or in part for a period of 30 days after the date hereof. If the Over- Allotment Option is exercised in full, the total gross proceeds of the Offering would be CAN$80,002,000. The net proceeds of the Offering will be used primarily to fund the Stage 2 expansion of the Greenbushes Lithium Operations (Western Australia), for exploration of the Salares 7 Lithium Project (Region III, Chile), and for general corporate and working capital purposes. This press release shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of the Shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. About Talison: Talison is a leading global producer of lithium. Talison mines and processes the lithium bearing mineral spodumene at the Greenbushes Lithium Operations in Western Australia. In addition, Talison explores for lithium at the Salares 7 lithium project made up of seven salars (brine lakes and surrounding concessions) located in Region III, Chile. Talison has an extensive, well established global customer network and a leading position in the growing Chinese market. For further information contact: Todd Hilditch, Director of Investor Relations Tel: 604-443-3831 E-mail: todd.hilditch@talisonlithium.com www.talisonlithium.com |
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