VANCOUVER, Nov. 20,
2014 /PRNewswire/ - Taseko Mines Limited ("Taseko")
(TSX:TKO, NYSE MKT:TGB) and Curis Resources Ltd. ("Curis") (TSX:
CUV) are pleased to announce today the completion of the previously
announced statutory plan of arrangement pursuant to which Taseko
has acquired all of the issued and outstanding Curis common shares
(the "Transaction"). Under the terms of the Transaction, Curis
shareholders will receive 0.438 of a Taseko common share for each
Curis common share held. Outstanding options to acquire Curis
common shares will be exchanged for Taseko common sharesbased on an
exchange formula set forth in the plan of arrangement implementing
the Transaction. As a result of the Transaction, Curis has become a
wholly owned subsidiary of Taseko.
The Transaction was approved by securityholders
of Curis at a special meeting held on November 10, 2014. The British Columbia Supreme
Court issued a final order approving the Transaction on
November 17, 2014. Curis common
shares are expected to cease trading and be de-listed from the
Toronto Stock Exchange after the close of trading on or about
November 25, 2014. Applications will
also be made for Curis to cease to be a reporting issuer in the
applicable jurisdictions.
Russell Hallbauer,
President and CEO of Taseko, commented, "We strongly believe this
transaction creates significant, long-term value for Taseko
shareholders. The advanced-stage Florence Copper Project is a high
quality asset located in Arizona
with large copper reserves, a favourable capital and operating cost
structure and access to key infrastructure. With the Curis
acquisition now complete we can focus on project development and
permitting initiatives for the Florence Copper Project. We feel the
project is at the stage where Taseko management can support the
Arizona-based Florence project
team to achieve significant milestones in the near-term."
If registered holders of Curis common shares
haven't already done so, they are encouraged to complete, execute
and submit the letter of transmittal included in the special
meeting materials previously sent to Curis securityholders as soon
as possible in order to receive the Taseko common shares to which
they are entitled under the Transaction. Non-registered holders of
Curis common shares should contact their broker or other
intermediary for assistance receiving the Taseko common shares to
which they are entitled under the Transaction.
About Taseko
Headquartered in Vancouver, Canada, Taseko is the owner (75%)
and operator of the Gibraltar Mine, the second largest open pit
copper-molybdenum mine in Canada.
Taseko also owns the New Prosperity Project, one of the largest
undeveloped gold-copper deposits in the world. The Aley Niobium
Project and Harmony Gold Project provide Taseko with a diverse
project pipeline.
About Curis
Curis is focused on advancing the 100%-owned
Florence Copper project in Arizona,
USA, to production. A Phase 1 Production Test Facility
("PTF") for the in-situ copper recovery project is in the final
stages of permitting. The PTF includes a 24-well in-situ recovery
well field and a state of the art SX-EW plant that will produce
99.99% pure copper cathode. The PTF will assist in demonstrating
the science and safety of the in-situ process and provide an
opportunity for the public to fully engage and understand this
modern copper extraction technology. Florence Copper continues to
advance engineering, testwork, environmental studies and permitting
for Phase 2 commercial operations.
Forward Looking Statements
No regulatory authority has approved or
disapproved the information contained in this news release. This
release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address the Transaction
or developments that the companies expect are forward-looking
statements. Although the companies believe the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, actual results or developments may differ
materially from those in the forward-looking statements. Investors
are cautioned that any such statements are not guarantees of actual
results or developments, which may differ materially from those
projected in the forward-looking statements. For more information
on Taseko or Curis, investors should review their respective
continuous disclosure filings that are available at
www.sedar.com.
SOURCE Taseko Mines Limited