01:54 PM EDT, 06/09/2025 (MT Newswires) -- Talon Metals ( TLOFF ) was last seen down 15% after the company said it is upsizing a two private placement to raise $39 million, up from the $24-million target announced earlier on Monday.

The company now says it will raise $25.3 million in a bought-deal private placement of 115-million share units priced at $0.22.

It will also raise a further $13.69 million in a non-brokered private placement of 62.23-million units also priced at $0.22.

The units are made up of a share and one half of a two-year warrant to buy a second share for $0.28.

The company intends to use the net proceeds from the offerings to advance the Tamarack Nickel Project and for general and administrative expenses and working capital purposes.

Talon shares were last seen down $0.04 to $0.22 on the Toronto Stock Exchange.

Price: 0.23, Change: -0.04, Percent Change: -13.46