- Taseko Talks
May 3, 2023
May 3, 2023, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the “Company”) announces that it has entered into an equity distribution agreement dated May 3, 2023 (the “Equity Distribution Agreement”) providing for an at-the-market equity offering program (“ATM”) with National Bank Financial, Canaccord Genuity and Stifel GMP and their respective United States affiliates (collectively, the “Agents”).
The ATM will allow Taseko, through the Agents, to offer and sell from time to time in Canada and the United States, through the facilities of the Toronto Stock Exchange (“TSX”) and the NYSE American LLC (“NYSE American”) such number of common shares as would have an aggregate offering price of up to US$50 million. Sales of the common shares, if any, will be made in transactions that are deemed to be “at-the-market distributions” as defined in National Instrument 44-102 – Shelf Distributions and an “at-the-market offering” as defined in Rule 415 under the United States Securities Act of 1933, as amended, including sales made by the Agents directly on the TSX, the NYSE American or any other trading market for common shares in Canada, the United States or as otherwise agreed between the Agents and the Company. The Company has applied to the TSX and NYSE American for listing of the common shares that may be issued under the ATM and sales will be subject to the receipt of the required stock exchange approvals. The common shares sold under the ATM will also be admitted to trading on the London Stock Exchange.
The ATM will be effective until May 26, 2025 unless terminated before such date in accordance with the Equity Distribution Agreement. The timing and extent of the use of the ATM will be at the discretion of the Company. Accordingly, total gross proceeds from sales made under the ATM, if any, could be significantly less than US$50 million.
The Company intends to use any proceeds from the ATM for its general corporate purposes, which may include (i) capital expenditures for the Company’s Gibraltar mine, (ii) expenses associated with the development of the Company’s Florence Copper project, (iii) expenditures on Taseko’s other projects, and (iv) general corporate and working capital purposes.
The sale of the Company’s common shares through the ATM will be made pursuant to, and qualified in Canada by, a prospectus supplement dated May 3, 2023 (the “Prospectus Supplement”) to the base shelf prospectus of the Company dated April 25, 2023 (the “Base Prospectus”), and in the United States pursuant to a prospectus supplement dated May 3, 2023 (the “U.S. Prospectus Supplement”) to the Company’s final base shelf prospectus contained in the Company’s effective registration statement on Form F-10 (File No. 333-271142) filed with the United States Securities and Exchange Commission (the “SEC”). The Prospectus Supplement (together with the Base Prospectus) will be available on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com and the U.S. Prospectus Supplement (together with the related base prospectus) will be available on the SEC’s website at www.sec.gov. Printed or electronic copies of the documents can also be requested by contacting the Company’s Corporate Secretary by mail at #1200 - 1040 West Georgia Street, Vancouver, BC, Canada, V6E 4H1, by email at email@example.com or by phone at +1 778-373-4533. Alternatively, the following Agents participating in the ATM will arrange to send you these documents if you make a request by contacting:
National Bank Financial Inc.
475 Howe Street, Suite 3000
Vancouver, BC V6C 2B3
99 High Street
Boston, MA 02110
Stifel Nicolaus Canada Inc.
161 Bay Street, Suite 3800
Toronto, ON M5J 2S1
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of any such state or jurisdiction.
For further information on Taseko:
Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free 1-877-441-4533
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This document contains “forward-looking statements” that were based on Taseko’s expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions. Forward-looking statements made in this news release include statements regarding the Company’s expected use of proceeds from the ATM, if any.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:
For further information on Taseko, investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com, including the “Risk Factors” included in our Annual Information Form.