New Talisman Gold Mines Ltd (ASX:NTL,NZSX:NTL) has outlined that the current Share Purchase Plan (SPP) will not be extended and will close at 5.00pm (NZ time) and 3.00pm (AEST) on the 20th September.
The SPP provides eligible shareholders resident in New Zealand or Australia on the 25th August 2017 to subscribe for shares up to NZ$15,000, or A$13,875 in total or in lots of NZ$1,000 or A$925.
The issue price will be NZ$0.022 or A$0.02035, and in addition for every five shares applied for, a free option exercisable NZ$0.055 will be issued.
Matthew Hill, chief executive officer, commented:
"With the attaching options holding a value of between .2 and .4 cents per share (based on the black Scholes calculation), the current entry price for the offer equates to 1.8 to 2 cents NZ.
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"I am delighted by the amount of shareholder interest and support in the offer to date which if successful will allow accelerated development at Talisman aimed at increasing volumes and ultimately revenues."