REG-Taseko Mines Limited: Taseko Announces At-The-Market Offering

Taseko MinesAnnouncement

04/05/2023 07:15

Taseko ANNOUNCES At-the-Market Offering

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIIONS (SI 2019/310) ("UK MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

May 3, 2023, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American:
TGB; LSE: TKO) (“Taseko” or the “Company”) announces that it has
entered into an equity distribution agreement dated May 3, 2023 (the “Equity
Distribution Agreement”) providing for an at-the-market equity offering
program (“ATM”) with National Bank Financial, Canaccord Genuity and Stifel
GMP and their respective United States affiliates (collectively, the
“Agents”).

The ATM will allow Taseko, through the Agents, to offer and sell from time to
time in Canada and the United States, through the facilities of the Toronto
Stock Exchange (“TSX”) and the NYSE American LLC (“NYSE American”)
such number of common shares as would have an aggregate offering price of up
to US$50 million. Sales of the common shares, if any, will be made in
transactions that are deemed to be “at-the-market distributions” as
defined in National Instrument 44-102 – Shelf Distributions and an
“at-the-market offering” as defined in Rule 415 under the United States
Securities Act of 1933, as amended, including sales made by the Agents
directly on the TSX, the NYSE American or any other trading market for common
shares in Canada, the United States or as otherwise agreed between the Agents
and the Company. The Company has applied to the TSX and NYSE American for
listing of the common shares that may be issued under the ATM and sales will
be subject to the receipt of the required stock exchange approvals. The common
shares sold under the ATM will also be admitted to trading on the London Stock
Exchange.

The ATM will be effective until May 26, 2025 unless terminated before such
date in accordance with the Equity Distribution Agreement. The timing and
extent of the use of the ATM will be at the discretion of the Company.
Accordingly, total gross proceeds from sales made under the ATM, if any, could
be significantly less than US$50 million.

The Company intends to use any proceeds from the ATM for its general corporate
purposes, which may include (i) capital expenditures for the Company’s
Gibraltar mine, (ii) expenses associated with the development of the
Company’s Florence Copper project, (iii) expenditures on Taseko’s other
projects, and (iv) general corporate and working capital purposes.

The sale of the Company’s common shares through the ATM will be made
pursuant to, and qualified in Canada by, a prospectus supplement dated May 3,
2023 (the “Prospectus Supplement”) to the base shelf prospectus of the
Company dated April 25, 2023 (the “Base Prospectus”), and in the United
States pursuant to a prospectus supplement dated May 3, 2023 (the “U.S.
Prospectus Supplement”) to the Company’s final base shelf prospectus
contained in the Company’s effective registration statement on Form F-10
(File No. 333-271142) filed with the United States Securities and Exchange
Commission (the “SEC”). The Prospectus Supplement (together with the Base
Prospectus) will be available on the SEDAR website maintained by the Canadian
Securities Administrators at www.sedar.com and the U.S. Prospectus Supplement
(together with the related base prospectus) will be available on the SEC’s
website at www.sec.gov. Printed or electronic copies of the documents can also
be requested by contacting the Company’s Corporate Secretary by mail at
#1200 - 1040 West Georgia Street, Vancouver, BC, Canada, V6E 4H1, by email at
investor@tasekomines.com or by phone at +1 778-373-4533. Alternatively, the
following Agents participating in the ATM will arrange to send you these
documents if you make a request by contacting:

National Bank Financial Inc.
475 Howe Street, Suite 3000
Vancouver, BC V6C 2B3
gavin.brancato@nbc.ca

Canaccord Genuity
99 High Street
12th Floor
Boston, MA 02110
prospectus@cgf.com

Stifel Nicolaus Canada Inc.
161 Bay Street, Suite 3800
Toronto, ON M5J 2S1
SyndProspectus@stifel.com

This press release shall not constitute an offer to sell or a solicitation of
an offer to buy, nor will there be any sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful
before registration or qualification under the securities laws of any such
state or jurisdiction.

For further information on Taseko:

Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free
1-877-441-4533

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 made in this news release include statements
regarding the Company’s expected use of proceeds from the ATM, if any.

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, inflation and
interest rates and in the demand and market price for our input costs, such as
diesel fuel, reagents, 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;
* the impact of rising interest rates by central banks on our current and
future borrowing costs, including the impact that inflation could have on the
estimated costs related to the construction of the Florence Copper Project;
* uncertainties resulting from the war in Ukraine, and the accompanying
international response including economic sanctions levied against Russia and
other countries, which has disrupted the global economy, created increased
volatility in commodity markets (including oil and gas prices), and disrupted
international trade and financial markets, all of which have an ongoing and
uncertain effect on global economics, supply chains, availability of materials
and equipment and execution timelines for project development;
* uncertainties about the continuing impact of the novel coronavirus
(“COVID-19”) and the response of local, provincial, state, federal and
international governments to the ongoing threat of COVID-19, on our operations
(including our suppliers, customers, supply chains, employees and contractors)
and economic conditions generally including stimulation measures implemented,
rising inflation levels and in particular with respect to the demand for
copper and other metals we produce;
* inherent risks associated with mining operations, including our current
mining operations at Gibraltar, and their potential impact on our ability to
achieve our production estimates;
* uncertainties as to our ability to control our operating costs, including
inflationary cost pressures at Gibraltar without impacting our planned copper
production;
* the risk of inadequate insurance or inability to obtain insurance to cover
material mining or operational risks;
* uncertainties related to the feasibility study for the Florence Copper
Project and our other development projects which provide estimates of future
production, expected or anticipated capital and operating costs, expenditures
and economic returns from these mining projects;
* 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 grades and recoveries at Gibraltar may not remain consistent
with our mineral reserve expectations and current mine plans;
* the risk that we may not be able to expand or replace reserves as our
existing mineral reserves are mined;
* the availability of, and uncertainties relating to the development of,
additional financing and infrastructure necessary for the advancement of our
development projects, including with respect to our ability to obtain any
remaining construction financing potentially needed to move forward with
commercial operations at Florence Copper;
* 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, particularly in respect to Florence Copper that requires one key
regulatory permit from the U.S. Environmental Protection Agency (“EPA”) in
order to advance to a construction decision and commercial operations;
* uncertainties related to the Florence Copper Project execution plan,
including inflation risk and the potential impact of supply chain disruptions
on our construction schedule, which could impact the transition into
construction operations after the final permit is received from the EPA;
* uncertainties relating to the satisfaction of the conditions for the advance
of the US$50 million deposit under our copper stream agreement with Mitsui for
the construction of the Florence Copper commercial facility and our US$25
million equipment commitment from Bank of America Leasing and Capital LLC;
* uncertainties relating to our ability to secure premium pricing for copper
produced at the Florence Copper facility based on its low-carbon
characteristics;
* the risk that until construction of the commercial facility at Florence
Copper is complete and ramped up, there could be increases in actual costs
incurred that will negatively impact our estimates for current projected
economics for commercial operations at Florence Copper;
* uncertainties related to First Nations claims and consultation issues;
* our reliance on rail transportation and port terminals for shipping our
copper concentrate production from Gibraltar;
* 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 and mine closure and bonding requirements;
* our current dependence solely on our 87.5% interest in Gibraltar for
revenues and operating cashflows;
* our ability to collect payments from customers, extend existing concentrate
off-take agreements or enter into new agreements;
* environmental issues and liabilities associated with mining including
processing and stock piling ore;
* labour strikes, work stoppages, or other interruptions to, or difficulties
in, the employment of labour in markets in which we operate our mine,
industrial accidents, equipment failure, weather related breakdowns or other
events or occurrences, including third party interference that interrupt the
production of minerals in our mine;
* environmental hazards and risks associated with climate change, including
the potential for damage to infrastructure and stoppages of operations due to
forest fires, flooding, extreme cold, drought, or other natural events in the
vicinity of our operations;
* litigation risks and the inherent uncertainty of litigation, including
litigation to which Florence Copper could be subject to;
* our actual costs of reclamation and mine closure may exceed our current
estimates of these liabilities;
* our ability to meet the financial reclamation security requirements for
Gibraltar, Florence Copper and other development projects;
* the capital intensive nature of our business both to sustain current mining
operations and to develop any new projects, including Florence Copper;
* our reliance upon key management and operating personnel;
* the competitive environment in which we operate;
* the effects of forward selling instruments to protect against fluctuations
in copper prices, foreign exchange, interest rates or input costs such as
diesel fuel;
* the risk of changes in accounting policies and methods we use to report our
financial condition, including uncertainties associated with critical
accounting assumptions and estimates; and Management Discussion and Analysis
(“MD&A”), quarterly reports and material change reports filed with and
furnished to securities regulators, and those risks which are discussed under
the heading “Risk Factors”.
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.gov and home jurisdiction filings that are available at
www.sedar.com, including the “Risk Factors” included in our Annual
Information Form.



Copyright (c) 2023 PR Newswire Association,LLC. All Rights Reserved