Taseko Mines to Raise $150M in Share Sale to Cut Debt
Taseko Mines (NYSE:TGB), a Canadian mining corporation specialising in copper and gold production, has agreed to sell 37.1 million common shares. The deal, expected to close around Oct. 22, subject to regulatory approvals, will see the company raise about US$150 million.
The shares are being sold at US$4.05 each in a bought deal financing. The offering includes a 30-day option for underwriters to buy up to an additional 15% of the shares. Taseko Mines plans to use the proceeds to repay debt and for general corporate and working capital purposes. Identifying the underwriters for this specific share issuance requires specific information, which is typically not publicly available unless disclosed in a press release or official corporate report.
The sale of shares is set to close around Oct. 22, pending regulatory approvals. Taseko Mines will use the funds to reduce debt and for general corporate purposes. The identity of the underwriters involved in this transaction remains to be officially disclosed.
