guessing - the closing of the financingwill be announed at Market close today?
GLTA
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Talison Lithium Ltd. has amended the terms of the previously announced bought-deal financing to increase the size of the offering to $69,569,500 from $60,001,500. Talison has entered into an amendment agreement with a syndicate of underwriters led by Cormark Securities Ltd. and including Scotia Capital Inc., Haywood Securities Inc. and Byron Securities Ltd., whereby the underwriters have agreed to purchase, on a bought-deal basis, 10,703,000 ordinary shares of Talison at a purchase price of $6.50 per share.In addition, the company has amended the term of the option granted to the underwriters, whereby they may now purchase up to an additional 1,605,000 shares (representing 15 per cent of the amended offering) at the offering price for aggregate gross proceeds of $10,432,500 to cover overallotments, if any, and for market stabilization purposes. The overallotment option is exercisable in whole or in part on or following the closing of the amended offering and for a period of 30 days thereafter. If the overallotment option is exercised in full the total gross proceeds of the amended offering would be $80,002,000.The amended offering is scheduled to close on or about Feb. 3, 2011, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the securities regulatory authorities.The net proceeds of the amended offering will be used primarily for expansion of the Greenbushes lithium operations (Western Australia) to more than double current production capacity and also for exploration of the Salares 7 project (Chile) and for general corporate purposes.The shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada (other than the province of Quebec) pursuant to National Instrument 44-101 (short form prospectus distributions) and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.