REG-Taseko Mines Limited: Taseko Announces Pricing of SR Secured Notes

Taseko MinesAnnouncement

10/04/2024 07:15

TASEKO ANNOUNCES PRICING OF SENIOR SECURED NOTES OFFERING

 

VANCOUVER, BC, April 10, 2024 -- Taseko Mines Limited (TSX: TKO) (NYSE
American: TGB) (LSE: TKO) ("Taseko") today announced that it has priced an
offering of US$500 million aggregate principal amount of Senior Secured Notes
due 2030 (the "Notes"). Interest on the Notes will accrue at an annual rate of
8.25% payable semi-annually, and the Notes will be issued at par. The offering
is expected to close on April 23, 2024, subject to customary closing
conditions.

Taseko intends to use the net proceeds from this offering, together with cash
on hand, to redeem all US$400 million aggregate principal amount outstanding
of its Senior Secured Notes due 2026 (the "Existing Notes") (including accrued
interest), to make capital expenditures, including at its Florence Copper
project and Gibraltar mine, as working capital and the remainder, if any, for
general corporate purposes and to pay fees and expenses in connection with
this offering.

The Notes will be secured by junior priority liens on the shares of Taseko's
wholly-owned subsidiaries, Gibraltar Mines Ltd. ("Gibraltar"), Curis Holdings
(Canada) Ltd. ("Curis"), Florence Holdings Inc. ("Florence Holdings"), and
Cariboo Copper Corp. ("Cariboo") and by Gibraltar's rights under the joint
venture agreement relating to the Gibraltar mine. The Notes will also be
guaranteed by certain restricted subsidiaries including Gibraltar, Curis,
Florence Holdings, Cariboo, Florence Copper Holdings Inc., FC-ISR Holdings
Inc., and Florence Copper LLC ("Florence"). Upon admission of a minority joint
venture partner for the Florence Copper project under certain conditions, the
guarantee of the bonds by Florence would be released. 

The Notes will not be registered under the U.S. Securities Act of 1933, as
amended (the "Securities Act"), or the securities laws of any other
jurisdiction. The Notes will not be qualified by a prospectus in Canada.
Unless they are registered or qualified by a prospectus, the Notes may be
offered and sold, only in transactions that are exempt from registration
requirements and from prospectus qualification under Canadian securities laws.
In the United States, the Notes will be offered and sold, only to persons
reasonably believed to be "qualified institutional buyers" (as defined in Rule
144A under the Securities Act) and outside the United States, to non-U.S.
persons in compliance with Regulation S under the Securities Act.

This press release is neither an offer to sell nor the solicitation of an
offer to buy the Notes, the Existing Notes or any other securities and shall
not constitute an offer to sell or solicitation of an offer to buy, or a sale
of, the Notes, the Existing Notes or any other securities in any jurisdiction
in which such offer, solicitation or sale is unlawful. This press release does
not constitute a notice of redemption with respect to the Existing Notes.

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 and forward-looking
information (collectively referred to as "forward-looking statements"), within
the meaning of applicable Canadian securities legislation and the United
States Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act and 21E of the U.S. Securities Exchange Act of 1934, as
amended, which may not be based on historical fact, including without
limitation statements regarding Taseko's expectations in respect of the
completion of the Note offering and the redemption of the Existing Notes, the
future financial position, business strategy, future production, reserve
potential, exploration drilling, exploitation activities, events or
developments that Taseko expects to take place in the future, projected costs
and plans and objectives. Often, but not always, forward-looking statements
can be identified by the use of the words "believes," "may," "plan," "will,"
"estimate," "scheduled," "continue," "anticipates," "intends," "expects,"
"aim" and similar expressions.

Such statements reflect Taseko's current views with respect to future events
and are subject to risks and uncertainties. These statements are necessarily
based upon a number of estimates and assumptions that are inherently subject
to significant business, economic, competitive, political and social
uncertainties and contingencies, including the completion of the Note offering
and the redemption of the Existing Notes. Many factors could cause Taseko's
actual results, performance or achievements to be materially different from
any future results, performance, or achievements that may be expressed or
implied by such forward-looking statements, including those contained in
Taseko's filings as well as the ability to complete the Note offering and the
redemption of the Existing Notes. For general information on Taseko, review
the documents that Taseko has filed with or furnished to the United States
Securities and Exchange Commission www.sec.gov and home jurisdiction filings
that are available at www.sedarplus.ca.

For general information on Taseko, see the Company's website at
www.tasekomines.com or contact: Brian Bergot, Vice President, Investor
Relations - 778-373-4533.

 



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