Taseko Mines Limited recently announced that it has acquired 7,692,307 common shares of Yellowhead Mining Inc. at a price of $0.65 per share pursuant to a private placement for subscription proceeds of $5 million.
Prior to the acquisition of these 7,692,307 shares, Taseko held 2,577,200 shares of Yellowhead representing approximately 4.8 per cent of Yellowhead's issued shares.
As a result of its participation in this private placement, Taseko now holds a total of 10,269,507 shares of Yellowhead, representing approximately 16.8 per cent of the Yellowhead Mining's currently issued and outstanding shares.
Yellowhead Mining is a publicly traded company with a 100 per cent interest in the Harper Creek copper-gold-silver development project, which is located approximately 10 km southwest of Vavenby.
Taseko is a Canadian mining company, focused on the operation and development of mines in British Columbia.Headquartered in Vancouver, Taseko is the owner (75 per cent) and operator of the Gibraltar Mine, the second largest open pit copper-molybdenum mine in Canada.
Taseko's New Prosperity Project, which is currently in the Environmental Assessment process, is one of the largest undeveloped gold-copper deposits in the world.