Teck announces subscription to True Gold Mining share placement
Mark O'Dea, executive chairman of True Gold Mining.
Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") has announced that it has subscribed for and acquired an additional 30,303,030 common shares of True Gold Mining Inc. (TSX VENTURE:TGM) ("True Gold"), at a cost of $0.33 per common share, as part of a non-brokered private placement conducted by True Gold, a Canadian gold exploration company. The common shares issued to Teck are restricted from trading until September 10, 2013.
As a result of the subscription, Teck holds 32,053,030 common shares of True Gold, representing approximately 15% of True Gold's outstanding common shares. The subscription was made for investment purposes. Teck may otherwise determine to increase or decrease its investment in True Gold depending on market conditions and any other relevant factors.
About Teck
Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK.
