Hudbay Acquires Additional Shares of Panoro Minerals
14 Marzo 2014 - 2:13PM
Marketwired
Hudbay Acquires Additional Shares of Panoro Minerals
TORONTO, ONTARIO--(Marketwired - Mar 14, 2014) - HudBay Minerals
Inc. ("Hudbay") (TSX:HBM)(NYSE:HBM) today announced that it has
acquired 10,127,500 common shares ("Shares") of Panoro Minerals
Ltd. ("Panoro") (TSX-VENTURE:PML) at a purchase price of C$0.28 per
Share for total consideration of C$2,835,700. The Shares acquired
by Hudbay were purchased over the TSX Venture Exchange pursuant to
a private agreement and represent approximately 4.9% of the issued
and outstanding Shares.
As a result of the investment, Hudbay now owns and has control
over 22,907,500 Shares, representing approximately 11.2% of the
issued and outstanding Shares.
The acquisition of the Shares is being made for investment
purposes. Hudbay may in the future increase or decrease its
ownership of Shares from time to time depending upon the business
and prospects of Panoro, future market conditions and Hudbay's
investment objectives.
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, the company's
objectives, strategies, intentions and future financial and
operating performance and prospects.
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 the company 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 material factors or assumptions
that the company identified and were applied by it in drawing
conclusions or making forecasts or projections set out in the
forward looking information include, but are not limited to, the
execution of its business and growth strategies, including the
success of its strategic investments and initiatives; the
availability of financing for its exploration and development
projects and activities; the ability to complete project targets on
time and on budget and other events that may affect its ability to
develop its projects; and no significant and continuing adverse
changes in general economic conditions or conditions in the
financial markets.
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), uncertainties related to the development and operation
of the company's projects (including the impact on project cost and
schedule of construction delays and unforeseen risks and other
factors beyond its control), depletion of its reserves, risks
related to political or social unrest or change and those in
respect of aboriginal and community relations and title claims,
operational risks and hazards, including unanticipated
environmental, industrial and geological events and developments
and the inability to insure against all risks, failure of plant,
equipment, processes, transportation and other infrastructure to
operate as anticipated, compliance with government and
environmental regulations, including permitting requirements and
anti-bribery legislation, dependence on key personnel and employee
relations, volatile financial markets that may affect its ability
to obtain financing on acceptable terms, uncertainties related to
the geology, continuity, grade and estimates of mineral reserves
and resources and the potential for variations in grade and
recovery rates, uncertain costs of reclamation activities, Hudbay's
ability to comply with the company's pension and other
post-retirement obligations, Hudbay's ability to abide by the
covenants in the company's debt instruments, 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.
Accordingly, the reader should not place undue reliance on
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 a Canadian integrated mining
company with assets in North and South America principally focused
on the discovery, production and marketing of base and precious
metals. Hudbay's objective is to maximize shareholder value through
efficient operations, organic growth and accretive acquisitions,
while maintaining its financial strength. A member of the
S&P/TSX Composite Index and the S&P/TSX Global Mining
Index, Hudbay is committed to high standards of corporate
governance and sustainability. Further information about Hudbay can
be found on www.hudbayminerals.com.
For further information, including a copy of the report required
to be filed by Hudbay in accordance with applicable Canadian
securities laws, please contact Hudbay at the address below.
HudBay Minerals Inc. |
25 York Street, Suite 800 |
Toronto, Ontario M5J 2V5 |
|
Attn: Candace Brûlé |
Director, Investor Relations |
(416) 814-4387 |
candace.brule@hudbayminerals.com |
HudBay Minerals Inc.Candace BruleDirector, Investor
Relations(416)
814-4387candace.brule@hudbayminerals.comwww.hudbayminerals.com
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