Taseko Mines has announced the completion of the previously announced transaction to acquire all of the issued and outstanding shares of Yellowhead.
Image: Taseko acquires Yellowhead Mining. Photo courtesy of rawpixel on Unsplash.
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 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.
Former shareholders of Yellowhead who have questions or require assistance with submitting their Common Shares in connection with the transaction may direct their questions to Computershare Investor Services Inc. who is acting as depositary in connection with the Arrangement.
Source: Company Press Release