Hudbay Files Early Warning Report for Fireweed Zinc Ltd.
February 07 2018 - 05:04PM
Hudbay Minerals Inc. (“Hudbay” or the “company”)
(TSX:HBM) (NYSE:HBM) today announced that, pursuant to the terms of
an option agreement dated December 14, 2016 (the “
Option
Agreement”) between Hudbay and Fireweed Zinc Ltd.
(“
Fireweed”), on February 6, 2018, Fireweed issued
3,565,406 common shares to Hudbay as partial consideration for the
acquisition of a 100% interest in Hudbay’s Tom & Jason Project
in Yukon, Canada. The 3,565,406 shares of Fireweed issued to Hudbay
represent approximately 16.7% of Fireweed’s currently issued and
outstanding shares. As a result of the transaction, Hudbay now owns
and has control over 3,565,406 shares of Fireweed (subject to
completing the transfer of the property in accordance with the
Option Agreement and certain escrow conditions).
This press release is issued pursuant to
applicable Canadian securities laws. A copy of the corresponding
early warning report has been filed and is available on Fireweed’s
SEDAR profile, at www.sedar.com.
Forward-Looking Information
This news release contains “forward-looking
statements” and “forward-looking information” (collectively,
“forward-looking information”) within the meaning of applicable
Canadian and United States securities legislation. Forward-looking
information includes information that relates to, among other
things, statements with respect to the acquisition of Fireweed
shares. Forward-looking information is not, and cannot be, a
guarantee of future results or events.
Forward-looking information is based on, among
other things, opinions, assumptions, estimates and analyses that,
while considered reasonable by us at the date the forward-looking
information is provided, inherently are subject to significant
risks, uncertainties, contingencies and other factors that may
cause actual results and events to be materially different from
those expressed or implied by the forward-looking information.
Should one or more risk, uncertainty, contingency or other factor
materialize or should any factor or assumption prove incorrect,
actual results could vary materially from those expressed or
implied in the forward-looking information. Hudbay does not assume
any obligation to update or revise any forward-looking information
after the date of this news release or to explain any material
difference between subsequent actual events and any forward-looking
information, except as required by applicable law.
About Hudbay
Hudbay (TSX:HBM) (NYSE:HBM) is an integrated
mining company primarily producing copper concentrate (containing
copper, gold and silver), zinc concentrate and zinc metal. With
assets in North and South America, the company is focused on the
discovery, production and marketing of base and precious metals.
Directly and through its subsidiaries, Hudbay owns four
polymetallic mines, four ore concentrators and a zinc production
facility in northern Manitoba and Saskatchewan (Canada) and Cusco
(Peru), and a copper project in Arizona (United States). The
company’s growth strategy is focused on the exploration and
development of properties it already controls, as well as other
mineral assets it may acquire that fit its strategic criteria.
Hudbay’s vision is to become a top-tier operator of long-life,
low-cost mines in the Americas. Hudbay’s mission is to create
sustainable value through the acquisition, development and
operation of high-quality and growing long-life deposits in
mining-friendly jurisdictions. The company is governed by the
Canada Business Corporations Act and its shares are listed under
the symbol “HBM” on the Toronto Stock Exchange, New York Stock
Exchange and Bolsa de Valores de Lima. Hudbay also has warrants
listed under the symbol “HBM.WT” on the Toronto Stock Exchange and
“HBM/WS” on the New York Stock Exchange. Further information about
Hudbay can be found on www.hudbay.com.
For further information, please contact:
Carla NawrockiDirector, Investor Relations(416)
362-7362carla.nawrocki@hudbay.com
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