Taseko completes acquisition of Yellowhead Mining
Taseko Mines Limited (TSX: TKO; NYSE American: TGB) (“Taseko” or the “Company”) and Yellowhead Mining Inc. (“Yellowhead”) (TSXV: YMI) announce the completion of the previously announced transaction between Taseko and Yellowhead whereby Taseko has acquired all of the issued and outstanding shares of Yellowhead (the “Arrangement”).
Russell Hallbauer, President and CEO of Taseko commented, “We are pleased to have completed the acquisition of Yellowhead and add its high quality project to our pipeline of long life assets. This is a meaningful and manageable transaction for Taseko and will create substantial long-term value for our shareholders.”
“We are already preparing to initiate the provincial and federal environmental review process. Over the coming months, our technical team will work on a number of engineering initiatives to improve the economics of the project. These initiatives include water and tailings management, pit design, mill capacity, cut-off grade, metallurgy and processing. Our goal is to issue a new 43-101 technical report by the end of 2019. We believe the project timing is ideally positioned in the copper price cycle and could follow the startup of our Florence Copper Project,” concluded Mr. Hallbauer.
Upon completion of the Arrangement, Taseko issued a total of 17,300,385 common shares to Yellowhead shareholders, representing 1.1484 Taseko common shares for each common share of Yellowhead not already held by Taseko. Yellowhead’s common shares will be de-listed from the TSX Venture Exchange, and Yellowhead will apply to cease to be a reporting issuer under applicable Canadian securities laws.