Teck Announces Subscription to Strait Minerals Share Placement
Teck Resources Limited +1 604 699 4000 Tel Suite 3300, 550 Burrard Street +1 604 699 4750 Fax Vancouver, BC Canada V6C 0B3 www.teck.com
For Immediate Release Date: August 16, 2012 12-35-TR
Teck Announces Subscription to Strait Minerals Share Placement
Vancouver, B.C. – Teck Resources Limited (TSX: TCK.A, TCK.B, NYSE: TCK) (“Teck”) announced today that it has subscribed for and acquired an additional 3,000,000 common shares of Strait Minerals Inc. (TSX-V: SRD) (“Strait”), at a cost of $0.10 per common share, as part of a private placement conducted by Strait. The common shares issued to Teck are legended and restricted from trading until December 16, 2012.
Teck directly holds 6,000,000 common shares of Strait, representing approximately 10.56% of the outstanding common shares of Strait, after giving effect to the private placement. Teck also holds 3,000,000 share-purchase warrants of Strait exercisable at $0.25 per warrant by December 16, 2012 or at $0.35 by December 31, 2013. If Teck were to exercise all of its warrants it would hold 9,000,0000 common shares, or approximately 15.03%, of Strait’s outstanding common shares, calculated on a partially diluted basis assuming the exercise of the Teck warrants only.
Strait is a Canadian mineral exploration company active solely in Peru since 2003. The subscription was made for investment purposes. Teck may otherwise 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.
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.
Media Contact: Investor Contact:
Marcia Smith Edwin Shadeo Senior Vice President, Sustainability & External Affairs Manager, Investor Relations Tel.: 604.699.4616 Tel.: 604.699.4531 E-mail: [email protected] E-mail: [email protected]