March 27, 2009
March 27, 2009 Taseko Mines Limited (“Taseko” or the “Company”) has entered into an agreement with a syndicate of underwriters under which the underwriters have agreed to buy from Taseko 13,793,104 common shares at an issue price of CDN$1.45 per common share (the “Offering”) for gross proceeds of approximately CDN$20 million.
The underwriters will have an over-allotment option, exercisable at any time prior to 30 days after the closing date, to acquire up to an additional number of common shares equal to 15% of the number of common shares sold pursuant to the Offering, at the issue price. The Company expects to file a short form prospectus with securities regulatory authorities in Canada to qualify the common shares for distribution in Canada.
The Company also intends to issue, via a non-brokered private placement at the same price as the Offering, approximately CDN$5 million of common shares (the “Non-Brokered Offering”). Finder’s fees will be payable on the Non-Brokered Offering.
The net proceeds from the Offering and the Non-Brokered Offering are intended to be used for general working capital and corporate purposes. Closing of the Offering and the Non-Brokered Offering is expected to occur on or about April 15, 2009 and is subject to certain customary terms and conditions, including normal regulatory approvals, including the approval of the Toronto Stock Exchange and the NYSE Amex Equities Exchange.
The Offering is being made in all provinces of Canada. The securities offered in each of the Offering and the Non-Brokered Offering will not be and have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. Securities purchased by U.S. investors pursuant to exemptions from the registration requirements may not be resold within the United States other than pursuant to further exemptions from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Russell Hallbauer
President and CEO
For further details on Taseko and its properties, please visit the Company’s website at www.tasekomines.com or Investor Services:
Contact Name: Brian Bergot, Investor Relations
Contact Number: 778-373-4545
No regulatory authority has approved or disapproved of the information contained in this news release.
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 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.