08:47 AM EDT, 10/03/2025 (MT Newswires) -- Talisker Resources ( TSKFF ) said Friday that it exercised its right to convert all of the outstanding principal amounts of its convertible debentures into common shares, reducing its debt by $5.1 million.

Talisker said it issued a $4 million convertible debenture to Phoenix Gold Fund in October 2024 and a $1.1 million convertible debenture to Spartan MM Fund in November 2024.

The debentures provide Talisker with a conversion right if the closing price of its shares on the Toronto Stock Exchange is at least 130% of the applicable conversion price for each of the 20 trading days before a notice of conversion is delivered to the holder.

As a result of the closing price of the shares on the TSX exceeding these thresholds, Talisker said it elected to convert all the outstanding principal amount of the Phoenix debenture into 8 million shares and all the outstanding principal amount of the Spartan debenture into 1,964,285 shares.

Talisker is advancing its flagship Bralorne gold project in British Columbia.

The company's share price dropped 4.5% Thursday to $1.50 on the Toronto Stock Exchange.