TORONTO, ONTARIO, Jan 23, 2009 (Marketwire via COMTEX News Network)
-- HudBay Minerals Inc. ("HudBay") (TSX:HBM) today announced the Ontario
Securities Commission (the "OSC") has set aside the Toronto Stock
Exchange's (the "TSX") December 10, 2008 decision granting conditional
approval for the listing of the HudBay shares to be issued as
consideration in connection with the acquisition by HudBay of all of the
issued and outstanding shares of Lundin Mining Corporation
(TSX:LUN)(OMX:LUMI)(NYSE:LMC) ("Lundin") pursuant to an arrangement
under the Canada Business Corporations Act.
The OSC determined in
its decision that HudBay shareholder approval of the acquisition of
Lundin by HudBay is required as a condition to the listing of the
additional common shares of HudBay, and has prohibited HudBay from
issuing any securities in connection with the acquisition without HudBay
having
first obtained the approval of a simple majority of the votes cast by
HudBay
shareholders entitled to vote at a duly convened special meeting of its
shareholders.
HudBay is reviewing the OSC decision with its legal advisors.
ABOUT HUDBAY MINERALS INC.
HudBay
is a leading base metals mining company with assets in North and
Central America. The company is focused on growing its business through
operational optimization, strategic investing, mine development and
exploration. An integrated mining company, HudBay operates zinc and
copper mines, concentrators and metal production facilities in northern
Manitoba and Saskatchewan, a zinc oxide production facility in Ontario,
the White Pine Copper Refinery in Michigan, and owns the Fenix nickel
project in Guatemala. In addition to its primary products, the company
also produces gold, silver and zinc oxide. HudBay is a member of the
S&P/TSX Composite Index and the S&P/TSX Global Mining Index.
This news release and the information contained herein does not
constitute an offer of securities for sale in the United States and
securities may not be offered or sold in the United States absent
registration or exemption from registration.
(HBM-T)
SOURCE: HudBay Minerals Inc.
HudBay Minerals Inc.
Annemarie Brissenden
Manager, Investor Relations
(416) 362-0615
Email: annemarie.brissenden@hudbayminerals.com
Website: www.hudbayminerals.com
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