Hudbay Minerals and Augusta Resources Corporation have entered into an agreement to effect an amalgamation as a result of which holders of common shares of Augusta will receive for their Augusta shares the same consideration as was paid by Hudbay for Augusta shares pursuant to Hudbay’s offer and Augusta will become an indirect wholly owned subsidiary of Hudbay.
The Board of Directors has unanimously determined that the amalgamation is in the best interest of Augusta. The amalgamation is conditional upon, among other things, approval by at least two thirds of the votes cast by Augusta shareholders present in person or represented by proxy at the special meeting of shareholders being held on September 19th. The votes associated with the Augusta shares held by Hudbay and its subsidiaries with Hudbay intending to vote in favor of amalgamation will be sufficient to effect such approval.
Augusta is a base metals company focused on advancing the Rosemont Copper Project near Tucson, Arizona.
