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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 25, 2016) -
Raging River Capital LP ("Raging River"), owning approximately 5.1% of the outstanding common shares of Taseko Mines Limited (TSX:TKO)(NYSE MKT:TGB) ("Taseko"), has said enough is enough in response to Taseko's continued attempts to distract from the problems of the Company and is commencing a defamation lawsuit with the objective of elevating the tenor of the debate to focus on the real issues of Taseko.
By trying to portray Mark Radzik, Managing Partner of Raging River, in a negative and baseless fashion, Taseko is continuing its well established strategy of finger-pointing and mud-slinging. It is clear this is yet another attempt to avoid scrutiny on very clear conflicts of interest and destruction of shareholder value, most recently shown through a lawsuit against the Canadian Government and a losing suit against the Wilderness Committee.
"I expect Taseko will eventually and desperately use the fact I once lost money on a lemonade stand venture when I was six as an excuse for why their conflicted and self-interested directors should not be replaced," said Mr. Radzik. "No amount of mud-slinging will change our view that the Hunter Dickinson related directors have gotten rich at the expense of Taseko shareholders and no amount of attempted distraction can erase their value destruction. Today we say enough is enough. We won't be bullied and we won't back down. We are fighting back to ensure we can bring the change to Taseko that shareholders want."
Shareholders haven't been fooled by Taseko's 'campaign of mass distraction' as Raging River has received overwhelming expressions of support from Taskeo shareholders, including Vertex One owning 3.92% of issued and outstanding shares, endorsing the replacement of incumbent directors Ronald Thiessen, Russell Hallbauer and Robert Dickinson with Raging River's independent nominees Paul Blythe, Randy Davenport, Henry Park and Mark Radzik.
Raging River has engaged Norton Rose Fulbright Canada LLP as its legal advisor and Kingsdale Shareholder Services as its strategic and communications advisor and proxy solicitor.
The information contained in this press release does not and is not meant to constitute a solicitation of a proxy within the meaning of applicable securities laws. Although the requisitioned general meeting of shareholders has been scheduled to take place on May 10, 2016 (the "Meeting"), shareholders are not being asked at this time to execute a proxy in favour of Raging River's director nominees (the "Concerned Shareholder Nominees") or any other resolution set forth in the requisition. In connection with the Meeting, Raging River intends to file a dissident information circular (the "Information Circular") in due course in compliance with applicable securities laws.
Notwithstanding the foregoing, Raging River is voluntarily providing the disclosure required under section 9.2(4) of National Instrument 51-102 - Continuous Disclosure Obligations in accordance with securities laws applicable to public broadcast solicitations.
This press release and any solicitation made by Raging River in advance of the Meeting is, or will be, as applicable, made by Raging River, and not by or on behalf of the management of Taseko. All costs incurred for any solicitation will be borne by Raging River, provided that, subject to applicable law, Raging River may seek reimbursement from Taseko of Raging River's out-of-pocket expenses, including proxy solicitation expenses and legal fees, incurred in connection with a successful reconstitution of the Board.
Raging River is not soliciting proxies in connection with the Meeting at this time, and shareholders are not being asked at this time to execute proxies in favour of the Concerned Shareholder Nominees (in respect of the Meeting) or any other resolution set forth in the requisition. Any proxies solicited by Raging River will be solicited pursuant to the Information Circular sent to shareholders of Taseko after which solicitations may be made by or on behalf of Raging River, by mail, telephone, fax, email or other electronic means, and in person by directors, officers and employees of Raging River or any proxy advisor that Raging River may retain or by the Concerned Shareholder Nominees.
Any proxies solicited by Raging River in connection with the Meeting may be revoked by instrument in writing by the shareholder giving the proxy or by its duly authorized officer or attorney, or in any other manner permitted by law and the articles of Taseko. None of Raging River or, to its knowledge, any of its associates or affiliates, has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter proposed to be acted on at the Meeting, other than the election of directors to the Board.
Additional information concerning the Concerned Shareholder Nominees is contained in the press release of Raging River dated January 13, 2016.
Taseko's principal business office is 15th floor - 1040 West Georgia Street, Vancouver, British Columbia V6E 4H1.
Kingsdale Shareholder Services
Executive Vice President, Communication Strategy
Direct: 416.867.2333; Cell: 647.621.2646