TALON METALS FURTHER EXTENDS MATURITY DATE OF INTERIM LOAN TO SABER ENERGY
October 9, 2009
Road Town, Tortola, British Virgin Islands – Talon Metals Corp. (“Talon”) (TSX: TLO) announces that it has agreed to a further one month extension (the “Extension”) to the maturity date of its previously announced interim loan (the “Interim Loan”) to Saber Energy Corp. (“Saber”) such that the Interim Loan will mature on the earlier of January 15, 2010 and the effective date of the proposed merger of Talon and Saber (the “Merger”).
The Extension is a result of concurrent amendments to the definitive, binding pre-merger agreement made as of September 1, 2009 between Talon and Saber in respect of the Merger (the “Merger Agreement”) to extend the deadline for the completion of certain conditions precedent under the Merger Agreement by one month. The parties continue to work towards a closing date for the Merger of November 30, 2009.
The Merger remains subject to the approval of the Toronto Stock Exchange and the shareholders of Talon and Saber.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States or in any state in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Talon is a TSX-listed company focused on the acquisition, exploration and development of high quality resource projects. Talon has a well-qualified exploration and management team with extensive experience in exploration and project management.
Talon has gold exploration projects and is developing a portfolio of potash projects in Brazil. Talon aims to acquire interests in, and develop, large resource projects, where it can add value to those projects, while reducing risk, through diversification of the commodity type held and the stage of development of each project.
Talon has a treasury of approximately CDN$5 million and holds 2,450,000 common shares in Beadell Resources Limited (ASX:BDR). Talon has 27,054,222 common shares outstanding and 30,239,222 shares fully diluted.
For additional information on Talon please visit the Talon’s website at www.talonmetals.com or contact:
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243