TORONTO, ONTARIO, Jan 8, 2009 (Marketwire via COMTEX News Network) --
HudBay Minerals Inc. (TSX:HBM) ("HudBay") announces that a third party
has submitted a request for a hearing and review by the Ontario
Securities Commission (the "OSC") of the decision (the "TSX Decision")
of the Toronto Stock Exchange (the "TSX") not to require a meeting of
the HudBay shareholders in connection with the business combination (the
"Transaction") of HudBay and Lundin Mining Corporation ("Lundin"). The
third party has requested that the OSC issue an order: (i) setting aside
the TSX Decision; (ii) requiring HudBay to call and hold a meeting of
its shareholders in order to obtain their approval of the Plan of
Arrangement as contemplated in the Arrangement Agreement dated November
21, 2008 between HudBay and Lundin; and (iii) prohibiting the closing of
the Transaction absent the approval of a simple majority of the votes
cast by HudBay shareholders at a duly convened special
meeting of its shareholders.
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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