Talisker Announces Share Consolidation

TORONTO, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Talisker Resources Ltd. (“Talisker” or the “Company”) (TSX:TSK | OTCQX:TSKFF) announces that the Company’s board of directors has approved consolidating (the “Consolidation”) its common shares (“Shares”) on the basis of one post-consolidation Share for every five pre-consolidation Shares, effective September 1, 2023 (the “Effective Date”).

The Consolidation is subject to approval by Toronto Stock Exchange (the “TSX”) and follows approval of a consolidation of the Shares on the basis of a range of up to five pre-consolidation Shares for every one post-consolidation Share at the annual and special meeting of shareholders of the Company held on June 29, 2023. As a result of the Consolidation, the number of issued and outstanding Shares will be reduced from 384,856,151 to approximately 76,971,230, subject to adjustment for rounding. No fractional shares will be issued in connection with the Consolidation. If a holder of Shares would otherwise be entitled to a fraction of a share, then the number of post-Consolidation Shares issuable to such shareholder shall be rounded down to the next lower whole number. No cash consideration will be paid in respect of fractional shares. The exercise or conversion price and/or the number of Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted in connection with the Consolidation.

The Shares will continue to trade on the TSX under the symbol “TSK” and on the OTCQX under the symbol “TSKFF” on a post-Consolidation basis, under a new CUSIP number - 87425A887. The Shares are expected to begin trading on a post-consolidation basis on the TSX when markets open on or about Wednesday, September 6, 2023.

Shareholders of record as of the Effective Date will receive a letter of transmittal from TSX Trust Company, the transfer agent for the Shares, providing instructions for the exchange of their Shares as soon as practicable following the Effective Date. Until surrendered, each share certificate representing pre-Consolidation Shares will represent the number of whole post-Consolidation shares to which the holder is entitled as a result of the Consolidation.

For further information, please contact:

Terry Harbort President and CEO [e-mail] [phone]

Matt Filgate Vice President, Corporate Development [e-mail]