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Taseko Announces Closing of US$23 Million Bought Deal Over-Allotment Option Exercised in Full

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Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) announces that it has closed its previously announced bought deal 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.  

 

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 to the Company’s existing Canadian base shelf prospectus and related U.S. registration statement on Form F-10 (SEC File No. 333-237948).  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.

 

Posted November 17, 2020

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