VANCOUVER: Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) has announced an at-the-market equity offering program (ATM) with National Bank Financial, Canaccord Genuity and Stifel GMP and their respective United States affiliates.
Under the equity distribution agreement, the ATM will allow Taseko to offer and sell common shares through the facilities of the Toronto Stock Exchange and the NYSE American with an aggregate offering price of up to US$50 million.
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 required stock exchange approvals.
The ATM will be effective until May 26, 2025, and the Company plans to use the proceeds for general corporate purposes including capital expenditures for its Gibraltar mine, expenses associated with the development of its Florence Copper project, expenditures on other projects, and general corporate and working capital purposes. The timing and extent of the use of the ATM will be at the discretion of the Company, and total gross proceeds could be significantly less than US$50 million.