VANCOUVER, Nov. 20, 2013 /CNW/ - Taseko Mines Limited (TSX: TKO NYSE MKT: TGB) ("Taseko" or the "Company") announces that it
has entered into an agreement to acquire 11,666,667 common shares of
Curis Resources Ltd. ("Curis") at a price of $0.60 per share pursuant
to a private placement for subscription proceeds of $7 million.
Upon receipt of TSX approval, Taseko will complete the acquisition of
3,333,333 of these shares, and will complete the acquisition of the
remaining 8,333,334 shares at or about January 2, 2014. Taseko
currently holds approximately 2% of Curis' issued shares, prior to the
closing of this private placement. After completion of this private
placement, Taseko will hold a total of 12,916,667 shares of Curis,
representing approximately 17% of the shares of Curis currently issued
Curis Resources is a publicly traded company with a 100% interest in the
Florence Copper Project in Arizona. All of these shares of Curis are
held directly by Taseko and are being held for investment purposes.
Taseko may in the future take such actions in respect of its Curis
shares as it deems appropriate in light of the market circumstances
then existing, including the potential purchase of additional shares of
Curis through open market purchases or privately negotiated
transactions, or the sale of all or a portion of such holdings in the
open market or in privately negotiated transactions to one or more
purchasers. There are no persons acting jointly or in concert with
Taseko with respect to Taseko's shareholdings in Curis, nor has Taseko
entered into any agreements in respect of its shareholdings in Curis
with any person with which Taseko acts jointly or in concert.
This news release is issued pursuant to Multilateral Instrument 62-104
of the Canadian Securities Administrators, which also requires a report
to be filed with the British Columbia, Alberta and Ontario Securities
Commissions, and with other Provincial Securities Commissions in
Canada, containing information with respect to the foregoing matters.
To obtain a copy of the subject report, please go to the Company's
profile on the SEDAR website (www.sedar.com).
President and CEO
No regulatory authority has approved or disapproved of the information
contained in this news release.
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.com and home jurisdiction filings that are available at www.sedar.com.
SOURCE: Taseko Mines Limited
For further information:
For further information on Taseko, please see the Company's website www.tasekomines.com or contact:
Brian Bergot, Director, Investor Relations - 778-373-4533 or toll free 1-877-441-4533