Taseko Mines Ltd (TGB)

[makesumgravy]

Taseko Announces Closing of Public Offering
Date : 04/15/2009 @ 8:56AM
Source : PR Newswire
Stock : (TGB)
Quote : 1.51 -0.095 (-5.92%) @ 8:00PM


Taseko Announces Closing of Public Offering





VANCOUVER, April 15 /PRNewswire-FirstCall/ -- 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") with a syndicate of underwriters (the "Underwriters").

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. Securities purchased by U.S. investors pursuant to exemptions from the registration requirements may not be resold within the United States other than pursuant to further exemptions from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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.

Russell Hallbauer President and CEO