VANCOUVER, April 15 /CNW/ - Taseko Mines Limited (TSX: TKO; NYSE Amex:
TGB) (the "Company") announces that it has closed the previously announced
"bought deal" short form prospectus offering (the "Offering") of 13,793,104
common shares at a price of $1.45 per common share (the "Offering Price"). A
syndicate of underwriters led by Raymond James Ltd. and including Wellington
West Capital Markets Inc., Canaccord Capital Corporation, Jennings Capital
Inc. and Paradigm Capital Inc. (collectively, the "Underwriters") acted as
Underwriters in connection with the Offering.
The Company granted to the Underwriters an over-allotment option to
purchase up to an additional 2,068,965 common shares at the Offering Price.
The Underwriters elected to exercise the over-allotment option in full for the
closing, resulting in aggregate gross proceeds to the Company of $23 million.
The net proceeds from the Offering are intended to be used for discharge
of accounts payable and general working capital.
The securities have not been registered under the Securities Act of 1933,
as amended (the "Securities Act"), or any state securities laws, and may not
be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of the Securities Act.
Taseko is a development and production company listed on the Toronto and
NYSE Amex Exchanges. Its Gibraltar copper-molybdenum mine is currently
undergoing a two phase expansion, designed to increase copper production
capacity to 115 million pounds per year by the end of 2009. The Company's
Prosperity gold-copper project is in the permitting phase. Both Gibraltar and
Prosperity are located in south-central British Columbia, Canada.
President and CEO
No regulatory authority has approved or disapproved of the
information in this news release.
Forward Looking Statements
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration drilling, exploitation activities and events or
developments that the Company expects are forward-looking statements. Although
the Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking
statements include capital market conditions, commodities market prices,
exploitation and exploration successes, lack of continuity of mineralization,
completion of the mill upgrade on time estimated and at scheduled cost,
continued availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such statements are
not guarantees of future performance and that actual results or developments
may differ materially from those projected in the forward-looking statements.
For more information on the Company, Investors should review the Company's
annual Form 40-F filing with the United States Securities and Exchange
Commission or the Company's home jurisdiction filings at www.sedar.com.
For further information:
For further information: Brian Bergot, Investor Relations, (778)
373-4545, toll free 1-800-667-2114