Overview of NTL's recent rights issue allotment

New Talisman Gold Mines Limited (ASX: $NTL) has successfully completed its 1 for 1 rights issue, raising $1.805m NZD. The allotment comprised of 85,104,277 rights taken up and additional rights applied for over and above the entitlement of 15,036,921. Furthermore, the company has made the first allotment of shares under shortfall applications, raising $79k NZD from 4,340,357 shortfall acceptances.

Directors' participation in shortfall and ongoing applications

Two NTL Directors, Mr. Tacon and Samantha Sharif, have confirmed their participation in the shortfall, subject to approval by shareholders at the ASM. Mr. Tacon has applied for $150,000, and Samantha Sharif for $20,000. These applications will be submitted, and the funds will be held in trust pending shareholder approval at the ASM. NTL is currently accepting applications for shortfall on the same terms as the original rights issue offer and has already received firm interest. Enquiries can be made to alistair@campbellmacpherson.com or phone +64 21 240 2988.

Summary of NTL's rights issue allotment and outlook

New Talisman Gold Mines Limited (ASX: $NTL) has successfully raised $1.805m NZD through its 1 for 1 rights issue and made the first allotment of shares under shortfall applications, raising an additional $79k NZD. The company anticipates being able to close applications for shortfall later this month and reserves the right to extend or modify the Shortfall Closing Date. Directors' participation in the shortfall, subject to shareholder approval, reflects their confidence in the company's prospects. NTL continues to accept applications for shortfall and has already received firm interest, indicating positive market sentiment. For further information or queries, individuals can contact John Upperton at john@newtalisman.co.nz or phone +64 9 303 1983.