TORONTO, ONTARIO -- (MARKET WIRE) -- 07/06/11 --
HudBay Minerals Inc. ("HudBay") (TSX: HBM)(NYSE: HBM) announced today it has successfully acquired the 2,562,313 remaining common shares of Norsemont Mining Inc.
("Norsemont") (TSX: NOM)(BVL: NOM) not already owned by it,
representing approximately 2.2% of the issued and outstanding common
shares, pursuant to a compulsory acquisition carried out under the
provisions of the Business Corporations Act (British Columbia)
following its previously announced successful tender offer. As a result
of the acquisition of such shares, HudBay now owns 116,103,244 common
shares of Norsemont, representing 100% of the issued and outstanding
common shares.
The common shares of Norsemont have been de-listed from the Toronto Stock Exchange as at the close of markets on July 5, 2011 and are in the process of being de-listed from the Lima Stock Exchange.
HudBay intends to cause Norsemont to apply to the relevant securities
commissions for it to cease to be a reporting issuer in all applicable
jurisdictions as soon as practicable following the de-listing of the
common shares from the Lima Stock Exchange.
HudBay Minerals Inc.
HudBay Minerals Inc. (TSX: HBM)(NYSE: HBM) is a Canadian integrated mining company with assets in North, Central and South America
principally focused on the discovery, production and marketing of base
and precious metals. The company'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.
Forward-Looking Information
Certain of the statements made and information contained herein contain
"forward-looking statements" or "forward-looking information" within the
meaning of applicable securities laws. Forward-looking information is
prospective in nature and is based on the views, opinions, intentions
and estimates of management at the date the information is made, and is
based on a number of assumptions and subject to a variety of known and
unknown risks and uncertainties and other factors. Many of these
assumptions are based on factors and events that are not within the
control of HudBay and there is no assurance they will prove to be
correct.
Although HudBay has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no
assurance that the forward-looking information will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such information. Accordingly, readers should
not place undue reliance on forward-looking information. HudBay does not
undertake to update any forward-looking information, except as required
by applicable securities laws, or to comment on analyses, expectations
or statements made by third parties in respect of HudBay, Norsemont or
their financial or operating results or securities.
This news release does not constitute an offer to buy any securities or a
solicitation of any vote or approval or a solicitation of an offer to
sell any securities.
(HBM-G)
Contacts:
HudBay Minerals Inc.
John Vincic, Vice President
Investor Relations & Corporate Communications
416-362-0615
john.vincic@hudbayminerals.com
Further Information for Norsemont Mining Shareholders:
Kingsdale Shareholder Services Inc.
Toll Free 1-800-775-3159 (English or French)
Outside North America, Bankers and Brokers: 416-867-2272
416-867-2271 (FAX)
Toll Free Facsimile: 1-866-545-5580
contactus@kingsdaleshareholder.com
Source: HudBay Minerals Inc.
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