Teck Announces Acquisition of Artha Resources Units
20.05.2015 | Marketwired
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - May 20, 2015) - Teck Resources Ltd. (TSX: TCK.A, TCK.B, NYSE: TCK) ("Teck") announced today that it has acquired 1,500,000 units of Artha Resources Corporation ("Artha") at a deemed price of $0.12 per unit. Each unit consists of one common share and one-half of one warrant, with each whole warrant entitling the holder to purchase for 24 months from the date of issuance a common share of Artha at an exercise price of $0.18 per share. The acquisition was made in connection with the termination of an option agreement between Teck and Artha on an exploration property.Combined with previous holdings, Teck holds 1,750,000 Artha common shares and 750,000 warrants. If Teck were to exercise the warrants it would hold approximately 23.9% of Artha's outstanding common shares, calculated on a partially diluted basis assuming the exercise of the Teck warrants only. Any exercise of warrants that would result in Teck owning more than 19.9% of Artha's outstanding common shares would be subject to Artha shareholder approval.
Teck may otherwise determine to increase or decrease its investment in Artha depending on market conditions and any other relevant factors. This release is required to be issued under the early warning requirements of applicable securities laws. A copy of the early warning report may be obtained from the contacts listed below.
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. Learn more about Teck at www.teck.com or follow @TeckResources.
Contact
Teck Resources Limited
Investor Contact:
Greg Waller, Vice President, Investor Relations and Strategic Analysis
604.699.4014
greg.waller@teck.com
Media Contact:
Chris Stannell, Senior Communications Specialist
604.699.4368
chris.stannell@teck.com
www.teck.com
