Local News

Hudbay and Augusta Have Reached a Purchase Agreement

Hudbay and Augusta Resources have entered into a definitive support agreement pursuant to which Hudbay has agreed to increase the consideration that will be received by Augusta shareholders under Hudbay’s offer to purchase all of the issued and outstanding shares not already owned by Hudbay.  Augusta’s Board of Directors is unanimously recommending that Augusta shareholders accept the revised offer and has agreed to terminate Augusta’s shareholder rights plan to permit shareholders to do so.
Hudbay President David Garofalo says they are pleased to have reached this agreement as they strongly believe in the merits of this transaction and its benefits to both companies’ shareholders.  He adds they look forward to working with the board and management of Augusta to bring this transaction to a conclusion and to advancing the Rosemont Copper Project near Tuscon, Arizona within Hudbay.

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