Talon Metals confirms effective date for the distribution of Rio Verde shares
ROAD TOWN, Tortola, British Virgin Islands, July 21, 2011 /CNW/ --
TSX:TLO
ROAD TOWN, Tortola, British Virgin Islands, July 21, 2011 /CNW/ - Talon
Metals Corp., ('Talon' or the 'Company') (TSX: TLO) is pleased to confirm that the 'effective date' of the distribution of Rio Verde Minerals
Development Corporation ('Rio Verde') shares to Talon shareholders (the
'RV Distribution') will be July 28, 2011.
At market open on Monday July 25, 2011, the common shares of Talon will
commence trading on an 'ex' distribution basis. Only Talon shareholders
of record at the close of business on Wednesday July 27, 2011 will
receive shares in Rio Verde on the basis of one ordinary share of Rio
Verde for every four common shares of Talon.
The RV Distribution shares will be subject to a six month hold period
(ending before market open on January 30, 2012) as required by the
syndicate of brokers for Rio Verde's recently completed equity
financing.
The RV Distribution Shares will be distributed to Talon's shareholders
by Talon's transfer agent, Computershare Investor Services Inc. on or
about July 28, 2011.
About Talon
Talon is a TSX-listed company focused on the exploration and development
of its 100% owned Trairão Iron Project in Pará State, Brazil. The
Company has a well-qualified exploration and management team with
extensive experience in exploration and project management.
Talon has a treasury of approximately CDN$33 million and approximately
91.7 million common shares outstanding and approximately 107.6 million
shares on a fully diluted basis.
Forward-Looking Statements
This news release contains certain 'forward-looking information'. All
information, other than information pertaining to historical fact,
which addresses activities, events or developments that Talon believes,
expects or anticipates will or may occur in the future constitutes
forward-looking information. Forward-looking information reflects the
current expectations or beliefs of Talon based on information currently
available to Talon. Such forward-looking information includes, without
limitation, the completion and proposed terms of the RV Distribution
and timing related thereto and the anticipated effect of the RV
Distribution on shareholder value.
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For additional information on Talon please visit the Company's website at www.talonmetals.com or contact:
Erica Belling
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243
Email: ebelling@taucapital.com