VANCOUVER, BC, Nov. 17, 2020 /PRNewswire/ - Taseko Mines Limited
(TSX: TKO) (NYSE American: TGB) (LSE: TKO) ("Taseko" or the
"Company") announces that it has closed its previously
announced bought deal offering, (the "Offering"). A total of
27,750,000 common shares of the Company were sold at the price of
US$0.83 per Offered Share for gross
proceeds of approximately US$23
million. The Offering was completed pursuant to an
underwriting agreement dated November 11,
2020 among the Company and Cantor Fitzgerald Canada
Corporation, as lead underwriter and sole bookrunner, and a
syndicate of underwriters including Velocity Trade Capital Ltd.,
BMO Nesbitt Burns Inc., National Bank Financial Inc. and TD
Securities Inc. (collectively, the
"Underwriters").
In addition, the Underwriters have exercised the over-allotment
option in full, with closing expected to be completed on
November 17, 2020. The Company
will issue an additional 4,162,500 common shares for additional
proceeds of approximately US$3.45
million.
The proceeds of the Offering are anticipated to be used to fund
ongoing operating, engineering and project costs in connection with
the advancement of the Company's Florence Copper Project and for
general corporate purposes and working capital.
The Offering was completed by way of a prospectus supplement
(the "Prospectus Supplement") to the Company's existing
Canadian base shelf prospectus (the "Base Shelf Prospectus")
and related U.S. registration statement on Form F-10 (SEC File No.
333-237948) (the "Registration Statement"). The U.S.
form of Base Shelf Prospectus is included in the Registration
Statement. This press release does not constitute an offer to
sell or the solicitation of an offer to buy securities, nor will
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction. The securities being offered have not been approved
or disapproved by any regulatory authority, nor has any such
authority passed upon by the accuracy or adequacy of the Prospectus
Supplement, the Base Shelf Prospectus or the Registration
Statement.
Russell Hallbauer
Chief Executive Officer and Director
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation, and
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995
(collectively referred to as "forward-looking information"). The
use of any of the words "expect", "plan", "update" and similar
expressions are intended to identify forward-looking information or
statements. These statements include expectations about the use of
proceeds of the Offering, the anticipated closing of the
Over-Allotment Option and the advancement of the development of the
Company's Florence Copper Project. Though the Company believes the
expectations expressed in its forward-looking statements are based
on reasonable assumptions, such 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. For further
information on Taseko and the assumptions and risks related to
Taseko's business and forward looking statements, investors should
review the Company's annual information form, annual MD&A and
audited financial statements filed by the Company under Canadian
securities laws at www.sedar.com and included in the Company's
annual report on Form 40-F filed with the United States Securities
and Exchange Commission at www.sec.gov, together with the
Prospectus Supplement and other continuous disclosure filings made
by the Company that have been filed at www.sedar.com and
www.sec.gov and incorporated by reference into the Prospectus
Supplement.
For readers in the European Economic Area and the
United Kingdom
In any EEA Member State and the United
Kingdom (each, a "Relevant State"), this
communication is only addressed to and directed at qualified
investors in that Relevant State within the meaning of the
Prospectus Regulation. The term "Prospectus Regulation" means
Regulation (EU) 2017/1129.
For readers in the United
Kingdom
This communication, in so far as it constitutes an invitation or
inducement to enter into investment activity (within the meaning of
s21 Financial Services and Markets Act 2000 as amended) in
connection with the securities which are the subject of the
offering described in this press release or otherwise, is being
directed only at (i) persons who are outside the United Kingdom; (ii) persons who have
professional experience in matters relating to investments who fall
within Article 19(5) (Investment professionals) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order"); (iii) certain high net worth companies and persons
who fall within Article 49(2)(a) to (d) (High net worth companies,
unincorporated associations etc.) of the Order; and/or (iv) any
other person to whom it may lawfully be communicated (all such
persons in (i) to (iv) together being referred to as "relevant
persons"). The Offered Shares are only available to, and any
invitation, offer or agreement to subscribe, purchase or otherwise
acquire such Offered Shares will be engaged in only with, relevant
persons. Any person who is not a relevant person should not act or
rely on this communication or any of its contents.
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SOURCE Taseko Mines Limited