NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES.
Taseko Mines Limited (“Taseko” or the “Company”) has today entered into
an agreement with a syndicate of underwriters led by Raymond James Ltd.
and including Wellington West Capital Markets Inc., Canaccord Capital
Corporation, and Paradigm Capital Inc. under which the underwriters have
agreed to buy from Taseko 13,793,104 common shares at an issue price of
$1.45 per common share (the “Offering”) for gross proceeds of
approximately $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 the securities regulatory
authorities to qualify the common shares for distribution.
The Company also intends to issue, via a non-brokered private placement
at the same price as the Offering, approximately $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 Alternext.
The Offering is being made in all provinces of Canada. The securities
offered 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. 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.
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.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
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.
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:
- uncertainties and costs related to the Company’s exploration and
development activities, such as those associated with continuity of
mineralization or determining whether mineral resources or reserves
exist on a property;
- uncertainties related to the accuracy of our estimates of mineral
reserves, mineral resources, production rates and timing of production,
future production and future cash and total costs of production and
- uncertainties related to feasibility studies that provide
estimates of expected or anticipated costs, expenditures and economic
returns from a mining project;
- uncertainties related to our ability to complete the mill upgrade on time estimated and at the scheduled cost;
- uncertainties related to the ability to obtain necessary licenses
permits for development projects and project delays due to third party
- uncertainties related to unexpected or ongoing judicial or regulatory proceedings;
- changes in, and the effects of, the laws, regulations and
government policies affecting our exploration and development activities
and mining operations, particularly laws, regulations and policies;
- changes in general economic conditions, the financial markets and
in the demand and market price for copper, gold and other minerals and
commodities, such as diesel fuel, steel, concrete, electricity and other
forms of energy, mining equipment, and fluctuations in exchange rates,
particularly with respect to the value of the U.S. dollar and Canadian
dollar, and the continued availability of capital and financing;
- the effects of forward selling instruments to protect against
fluctuations in copper prices and exchange rate movements and the risks
of counterparty defaults, and mark to market risk;
- the risk of inadequate insurance or inability to obtain insurance to cover mining risks;
- the risk of loss of key employees; the risk of changes in
accounting policies and methods we use to report our financial
condition, including uncertainties associated with critical accounting
assumptions and estimates;
- environmental issues and liabilities associated with mining including processing and stock piling ore; and
- labour strikes, work stoppages, or other interruptions to, or
difficulties in, the employment of labour in markets in which we operate
mines, or environmental hazards, industrial accidents or other events
or occurrences, including third party interference that interrupt the
production of minerals in our mines.
For further information on Taseko, investors should review the
Company’s annual Form 40-F filing with the United States Securities and
www.sec.gov and home jurisdiction filings that are available at www.sedar.com.
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