Hudbay Minerals Completes Acquisition of Mason Resources
December 19 2018 - 8:00AM
Mason Resources Corp. (TSX:MNR; OTCQB: MSSNF – “Mason”) and Hudbay
Minerals Inc. (TSX & NYSE: HBM – “Hudbay”) announce today the
completion of the previously announced plan of arrangement under
Part 9, Division 5 of the Business Corporations Act (British
Columbia) (the “Arrangement”) whereby Hudbay has acquired all of
the issued and outstanding common shares of Mason (“Common Shares”)
it did not already own for C$0.40 per Common Share.
“We are pleased to complete the acquisition of
Mason and add the Ann Mason project to our pipeline,” said Alan
Hair, president and chief executive officer of Hudbay. “The Ann
Mason project meets our stringent acquisition criteria and has the
potential to be a long-life, low-cost mine in one of the world’s
best jurisdictions for mining, and it is at a stage where we can
leverage our management expertise in exploration, engineering,
permitting and construction to create value for our
shareholders.”
With the Arrangement now complete, the Common
Shares will be de-listed from the Toronto Stock Exchange and OTC,
and Mason will apply to cease to be a reporting issuer under
applicable Canadian securities laws.
Former shareholders of Mason who have questions
or require assistance with submitting their Common Shares in
connection with the transaction may direct their questions to
Computershare Trust Company of Canada who is acting as depositary
in connection with the Arrangement, by telephone at 1 (800)
564-6253 or by email at corporateactions@computershare.com.
For more information on the Arrangement, please
see the news releases previously issued by Mason along with Mason’s
management information circular dated November 19, 2018 prepared in
connection with the Arrangement, all of which are available under
Mason’s 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 Hudbay’s strategy and
expectations in relation to the Ann Mason project. 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 Hudbay 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. The risks, uncertainties, contingencies and other
factors that may cause actual results to differ materially from
those expressed or implied by the forward-looking information may
include, but are not limited to, risks generally associated with
the mining industry, such as economic factors (including future
commodity prices, currency fluctuations, energy prices and general
cost escalation), as well as the risks discussed under the heading
“Risk Factors” in Hudbay’s most recent Annual Information Form.
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, NYSE: HBM) is an integrated mining
company producing copper concentrate (containing copper, gold and
silver), molybdenum 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. Through its
subsidiaries, Hudbay owns three 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 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. Further information about Hudbay can
be found on www.hudbay.com.
For further information, please
contact:
Candace BrûléDirector, Investor Relations(416)
814-4387candace.brule@hudbay.com
For media inquiries, please
contact:
Scott BrubacherDirector, Corporate
Communications (416) 814-4373 scott.brubacher@hudbay.com
Hudbay Minerals (TSX:HBM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Hudbay Minerals (TSX:HBM)
Historical Stock Chart
From Apr 2023 to Apr 2024