New Talisman Gold Mines issues new shares in partial debt conversion

New Talisman Gold Mines Limited (ASX: $NTL) has announced the issuance of 16,500,000 ordinary shares as part of the partial conversion of the Convertible Note debt security. The Convertible Note, which was issued to Hamish Brown and matured on 23 February 2024, will result in the issuance of shares at a discounted price of NZ$276,375, in accordance with the terms of the Note. The full conversion of the Note to ordinary shares would breach the New Zealand Takeovers Code threshold of 20% of NTL's total issued share capital.

Executive Commentary

The issuance of 16.5 million ordinary shares as part of the partial conversion of the Convertible Note debt security reflects our commitment to managing our debt obligations while balancing the impact on our total issued share capital. The decision to renew the balance of the Note on existing terms for a further 18 months provides us with flexibility, and we will continue to assess opportunities for further conversion of the Note to shares within the regulatory framework. We remain focused on maintaining a prudent approach to our capital structure and are optimistic about the potential for future developments.

Summary

New Talisman Gold Mines Limited (ASX: $NTL) has announced the issuance of 16,500,000 ordinary shares as part of the partial conversion of the Convertible Note debt security. The issuance is in compliance with the terms of the Note, which matured on 23 February 2024. The decision to issue shares at a discounted price of NZ$276,375 reflects the company's commitment to managing its debt obligations. The company has also indicated its intention to renew the balance of the Note on existing terms for a further 18 months, providing flexibility for potential future conversions within the regulatory framework. New Talisman Gold Mines remains focused on maintaining a prudent approach to its capital structure and expresses optimism about potential future developments.