WINNIPEG, MANITOBA--(CCNMatthews - July 5, 2006) - HudBay Minerals
Inc. (TSX:HBM) (HudBay) confirms that its incentive proposal to
warrantholders for the early exercise of their publicly-traded warrants
will expire today, as scheduled.
"Based on exercises to date and
indications we have received, we expect the transaction to be an
overwhelming success for HudBay," said Peter Jones, President and Chief
Executive Officer.
Registered warrantholders should refer to the
procedures regarding the early exercise of their warrants set forth in
the notice to warrantholders accompanying the management information
circular dated May 4, 2006 with respect to the extraordinary meeting of
warrantholders held June 1, 2006. Non-registered holders of warrants,
whose warrants are registered in the name of a brokerage firm, bank or
trust company or other intermediary, should contact their intermediaries
for instructions on how to exercise their warrants.
A copy of
the final short form prospectus dated May 30, 2006 relating to the
warrant transaction can be found under HudBay's profile at
www.sedar.com.
GMP Securities L.P. and BMO Capital Markets are acting as financial advisors to HudBay with respect to the transaction.
About HudBay
HudBay
Minerals Inc. is an integrated mining and metal producing company that
operates mines and concentrators in northern Manitoba and Saskatchewan
and a metal production complex in Flin Flon, Manitoba. The company also
owns a zinc oxide production facility in Brampton, Ontario, a copper
refinery in Michigan and the Balmat zinc mine in New York state.
If you have any questions or require assistance with the early exercise of warrants, please contact:
KINGSDALE SHAREHOLDER SERVICES INC.
North America Toll-Free Phone: 1-866-588-6864
Outside North America Call Collect: 416-867-2272
E-mail: shareholder@kingsdalecapital.com
This
press release is not an offer of securities for sale in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended. Securities may not
be offered or sold in the United States absent registration or an
exemption from registration.
Cautionary Note Regarding Forward-Looking Statements
This
press release contains "forward-looking statements", within the meaning
of applicable Canadian securities legislation, concerning the business
of HudBay. Forward-looking statements include, but are not limited to,
statements with respect to the anticipated exercise of warrants.
Generally, these forward-looking statements can be identified by the use
of forward-looking terminology such as "expects" or "indications" or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of
HudBay, to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to, risks
related to the actual exercise of its publicly-traded warrants. Although
HudBay has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. HudBay does not undertake to
update any forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
HudBay Minerals Inc.
Don Bain
Director, Investor Relations
(204) 949-4272
(204) 942-8177 (FAX)
don.bain@hbms.ca
www.hudbayminerals.com