NYSE: TC
TSX: TCM
TSX-V: TRX.WT
DENVER, CO,
May 7, 2012 /PRNewswire/ - Thompson
Creek Metals Company Inc. (the "Company" or "Thompson Creek"),
today announced its intention to offer, subject to market and other
conditions, $200,000,000 of its
Senior Notes due 2019 ("Senior Notes"), and 8,000,000 Tangible
Equity Units ("tMEDS") each with a stated amount of $25. The Company intends to grant the
underwriters a 13-day option to purchase an additional 1,200,000
tMEDS.
The Company intends to use the proceeds from the
offerings, together with cash from operations and funds from prior
financing arrangements, to complete construction of its Mt.
Milligan copper-gold mine and for working capital purposes.
Neither offering is contingent upon completion of the other
offering and each offering is being conducted as a separate public
offering.
The Senior Notes due 2019 will be fully and
unconditionally guaranteed by certain wholly-owned subsidiaries of
the Company. The Senior Notes are not convertible into equity
of Thompson Creek.
Each tMEDS is a unit composed of a prepaid stock
purchase contract and a senior amortizing note due May 15, 2015. Each purchase contract will
automatically settle on May 15, 2015
for shares of the Company's common stock. The amortizing
notes will pay equal quarterly installments that will constitute a
payment of interest and a partial repayment of principal. The
amortizing notes will be senior unsecured obligations of the
Company.
The offerings are being made in the United States pursuant to an effective
shelf registration statement that has been filed with the
Securities and Exchange Commission (the "SEC"). A preliminary
prospectus supplement related to the offering of the Senior Notes
and a preliminary prospectus supplement related to the offering of
the tMEDS will be filed with the SEC and will be available on the
SEC's website at http://www.sec.gov.
The offerings are being made in Canada pursuant to an effective Canadian base
shelf prospectus that has been filed on SEDAR. A preliminary
prospectus supplement related to the offering of the Senior Notes
and a preliminary prospectus supplement related to the offering of
the tMEDS will be filed with, and be available on, SEDAR at
http://www.sedar.com.
Copies of the preliminary prospectus supplements
and the accompanying prospectus relating to the applicable
securities may be obtained from J.P. Morgan Securities LLC at
1-212-834-4533 or by mail to Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717, Attention: Post-Sale Fulfillment; Deutsche Bank Securities
Inc. at 1-800-503-4611 or by emailing to
prospectusrequest@list.db.com or by mail to Deutsche Bank
Securities Inc., Attention: Prospectus Department, Harborside
Financial Center, 100 Plaza One, Jersey
City, NJ 07311; and RBC Capital Markets, LLC, as to the
Senior Notes, at 1-877-280-1299 or by emailing to
CM-USA-PROSPECTUS@rbc.com or by mail to RBC Capital Markets, LLC,
Attention: High Yield Capital Markets, Three World Financial
Center, 200 Vesey Street, 10th Floor, New York, NY 10281 and, as to the tMEDS, in
Canada by mail to RBC Capital
Markets, Attention: Distribution Centre, 277 Front St. W.,
5th Floor, Toronto,
Ontario M5V 2X4 or by fax to 1-416-313-6066, or in
the United States by mail to RBC
Capital Markets, LLC, Attention: Prospectus Department, Three World
Financial Center, 200 Vesey Street, 8th Floor,
New York, NY 10281 or by fax to
1-212-428-6260.
This press release is neither an offer to sell
nor a solicitation of an offer to buy any of Senior Notes, tMEDS or
any other security of the Company, nor shall there be any sale of
the Senior Notes or tMEDS in any jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
About Thompson Creek Metals Company
Inc.
Thompson Creek Metals Company Inc. is a growing,
diversified North American mining company. The Company
produces molybdenum at its 100%-owned Thompson Creek Mine in
Idaho and Langeloth Metallurgical
Facility in Pennsylvania and its
75%-owned Endako Mine in northern British
Columbia. Thompson Creek has approximately 1,100
employees. Its principal executive office is in Denver, Colorado and its Canadian
administrative office is in Vancouver,
British Columbia.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains ''forward-looking
statements'' within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation. Forward-looking statements include
statements with respect to: the actual or anticipated timing or
amount of securities offerings, the terms of the securities
offered, future financial or operating performance of Thompson
Creek or its subsidiaries and its projects; future inventory,
production, sales, cash costs, capital expenditures and exploration
expenditures; future earnings and operating results; expected
concentrate grades, and recovery; statements as to the projected
development of Mt. Milligan and other projects, including expected
production commencement dates; Mt. Milligan development costs; 2012
operating goals; and 2012 molybdenum prices.
Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which could
cause actual results to differ materially from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among
others, risks related to whether the offered securities will be
sold, general business, economic, competitive, political and social
uncertainties including global economic conditions; volatility in
molybdenum prices; labor cost and materials cost fluctuations;
foreign currency fluctuations; energy price fluctuations; project
delays; title disputes or claims; limitations of insurance
coverage; changes in governmental regulation of mining operations;
risks related to the volatility of Thompson Creek's share price;
changes in environmental regulation; actual results of current
exploration activities; actual results of reclamation activities;
conclusions of economic evaluations; changes in project parameters
as plans continue to be refined; possible variations of ore grade
or recovery rates; mining and processing conditions; construction
delays and related disruptions in production; costs of capital
expenditures; industrial accidents; weather and geological related
conditions; permitting and regulatory matters (including penalties,
fines, sanctions and shutdowns); and failure of plant, equipment or
processes to operate as anticipated. Additional factors that
could cause Thompson Creek's results to differ from those described
in the forward-looking statements can be found in the section
entitled ''Risk Factors'' in Thompson Creek's Annual Report on Form
10-K and in Part II, Item 1A of Form 10-Q, and subsequent documents
filed on EDGAR at www.sec.gov and on SEDAR at www.sedar.com.
Forward-looking statements contained herein are made as of the date
of this news release and Thompson Creek disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by law. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements.
Pamela Solly
Director, Investor Relations
Thompson Creek Metals Company Inc.
Tel: (303) 762-3526
psolly@tcrk.com
Christine Stewart
Renmark Financial Communications Inc.
Tel: (416) 644-2020
cstewart@renmarkfinancial.com
SOURCE Thompson Creek Metals Company Inc.