VANCOUVER, British Columbia, Oct. 22, 2025 (GLOBE NEWSWIRE) -- Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the "Company") is pleased to announce that it has closed its previously announced bought deal offering (the "Offering"). A total of 42,000,000 common shares (the "Common Shares") of the Company (including 4,900,000 Common Shares issued upon the Underwriters' partial exercise of the over-allotment option) were sold at the price of US$4.05 per Common Share for gross proceeds of US$170,100,000. The Offering was completed pursuant to an underwriting agreement dated October 17, 2025 among the Company and BMO Capital Markets and Canaccord Genuity Corp., as co-lead managers, and National Bank Financial Inc., each as joint bookrunners, and TD Securities Inc. (collectively, the "Underwriters").
The proceeds of the Offering are anticipated to be used to repay outstanding indebtedness under the Company's revolving credit facility and for general corporate and working capital purposes.
The Offering was completed by way of a prospectus supplement (the "Prospectus Supplement") dated October 17, 2025 to the Company's existing Canadian short form base shelf prospectus (the "Base Shelf Prospectus") and related U.S. registration statement on Form F-10 (U.S. Securities and Exchange Commission ("SEC") File No. 333-288490) (the "Registration Statement"). The U.S. form of the Base Shelf Prospectus is included in the Registration Statement. The Prospectus Supplement has been filed with the securities commissions in each of the provinces and territories of Canada, except Quebec and Nunavut, and with the SEC. The Canadian form of the Prospectus Supplement is available on the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca. The U.S. form of the Prospectus Supplement (together with the related U.S. form of the Base Shelf Prospectus) is available on EDGAR at www.sec.gov.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common shares of Taseko in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
For further information on Taseko, see the Company's website at tasekomines.com or contact:
-- Investor enquiries Brian Bergot, Vice President, Investor Relations --
778-373-4554
Stuart McDonald
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
Caution Regarding Forward-Looking Information
This 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.
Forward-looking 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 about the future market price of copper and the other
metals that we produce or may seek to produce;
-- changes in general economic conditions, the financial markets and in the
market price for our input costs including due to inflationary impacts,
such as diesel fuel, acid, 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;
-- inherent risks associated with mining operations, including our current
mining operations at Gibraltar and our planned mining operations at
Florence Copper, and their potential impact on our ability to achieve our
production estimates;
-- uncertainties as to our ability to achieve reduced costs for Gibraltar
and to otherwise control our operating costs without impacting our
planned copper production;
-- our high level of indebtedness and its potential impact on our financial
condition and the requirement to generate cash flow to service our
indebtedness and refinance such indebtedness from time to time;
-- the increases in interest rates, by central banks may increase our
borrowing costs and impact the profitability of our operations;
-- our ability to draw down on our financing arrangements for the
commissioning and ramp up of operations at Florence Copper is subject to
our meeting the required conditions for drawdown;
-- the amounts we are required to pay for our acquisition of Cariboo will
increase with higher copper prices;
-- the risk of inadequate insurance or inability to obtain insurance to
cover our business risks;
-- 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
milling;
-- the risk that we may not be able to expand or replace Mineral Reserves as
our existing Mineral Reserves are mined;
-- the risk that the results from our commissioning, ramp up and initial
operations of Florence Copper will not meet our estimates of operating
costs, revenue, sustaining capital, rates of return and cash flows from
operations which have been projected by the technical report for
Florence;
-- the risk of commissioning and ramp up of the commercial facilities at
Florence Copper, resulting in not commencing commercial production within
our current projected timeline or within our current projected cost
estimates;
-- uncertainties related to the commencement of commercial operations at
Florence Copper resulting from inflation risk, supply chain disruptions,
material and labour shortages or other execution risks;
-- our ability to comply with all conditions imposed under the APP and UIC
permits for the operation of Florence Copper;
-- the availability of, and uncertainties relating to, any additional
financing necessary for the continued operation and development of our
projects, including with respect to our ability to obtain any additional
financing, if needed, to commence commercial operations at Florence
Copper;
-- shortages of water supply, critical spare parts, maintenance service and
new equipment and machinery or our ability to manage surplus water on our
mine sites may materially and adversely affect our operations and
development projects;
-- our ability to comply with the extensive governmental regulation to which
our business is subject;
-- uncertainties related to our ability to obtain necessary title, licenses
and permits for our development projects and project delays due to third
party opposition;
-- uncertainties related to Indigenous people's claims and rights, and
legislation and government policies regarding the same;
-- our reliance on the availability of infrastructure necessary for
development and on operations, including on rail transportation and port
terminals for shipping of our copper concentrate production from
Gibraltar, and rail transportation and power for the feasibility of our
other British Columbia development projects;
-- uncertainties related to unexpected 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;
-- potential changes to the mineral tenure system in British Columbia, which
is undergoing reform for compliance with the Declaration Act (British
Columbia);
-- our dependence solely on our 100% interest in Gibraltar for our revenues
and our operating cash flows;
-- our ability to extend existing concentrate off-take agreements or enter
into new agreements;
-- environmental issues and liabilities associated with mining including
processing and stockpiling ore;
-- labour strikes, work stoppages, or other interruptions to, or
difficulties in, the employment of labour in markets in which we operate
mines, industrial accidents, equipment failure or other events or
occurrences, including third party interference that interrupt the
production of minerals in our mines;
-- environmental hazards and risks associated with climate change, including
the potential for damage to infrastructure and stoppages of operations
due to extreme cold, forest fires, flooding, drought, earthquakes or
other natural events in the vicinity of our operations;
-- litigation risks and the inherent uncertainty of litigation;
-- our actual costs of reclamation and mine closure may exceed our current
estimates of these liabilities;
-- our ability to renegotiate our existing union agreement for Gibraltar
when it expires in May 2027;
-- the capital intensive nature of our business both to sustain current
mining operations and to develop any new projects;
-- our ability to develop new mining projects may be adversely impacted by
potential indigenous joint decision-making and consent agreements being
implemented by the Government of British Columbia under the B.C.
Declaration on the Rights of Indigenous Peoples Act;
(MORE TO FOLLOW) Dow Jones Newswires
October 22, 2025 08:31 ET (12:31 GMT)
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