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Hudbay Minerals acquires Mason Resources

Published by , Assistant Editor
Global Mining Review,

Yesterday, Mason Resources Corp. (Mason) and Hudbay Minerals Inc. (Hudbay) completed the previously announced plan of arrangement under Part 9, Division 5 of the Business Corporations Act (British Columbia) (the arrangement) whereby Hudbay has acquired all of the issued and outstanding common shares of Mason it did not already own for CAN$0.40 per common share.

"We are pleased to complete the acquisition of Mason and add the Ann Mason project to our pipeline," said Alan Hair, President and CEO of Hudbay.

"The Ann Mason project meets our stringent acquisition criteria and has the potential to be a long-life, low-cost mine in one of the world's best jurisdictions for mining, and it is at a stage where we can leverage our management expertise in exploration, engineering, permitting and construction to create value for our shareholders."

With the arrangement now complete, the common shares will be de-listed from the Toronto Stock Exchange and OTC, and Mason will apply to cease to be a reporting issuer under applicable Canadian securities laws.

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Canadian mining news