Teck Announces Exercise of Strait Minerals Warrants
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 5, 2013) - Teck Resources Limited (TSX: TCK.A, TCK.B, NYSE: TCK) ("Teck") announced that it has exercised 3,000,000 warrants to purchase 3,000,000 common shares of Strait Minerals Inc. (TSX VENTURE:SRD) ("Strait"), at a cost of $0.12 per common share.
Following the exercise, Teck directly holds 9,000,000 common shares of Strait, representing approximately 14.9% of the outstanding common shares of Strait.
Strait is a Canadian mineral exploration company active solely in Peru since 2003. The exercise was made to satisfy one of the conditions to earning a 45% interest in Strait's 100% owned Alicia property in Peru, as well as for investment purposes. Teck may determine to increase or decrease its investment in Strait depending on market conditions and any other relevant factors.
This release is required to be issued under the early warning requirement of the Ontario Securities Act and National Instrument 62-103.
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. More information about Teck can be found at: www.teck.com.