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HudBay Notified of Request for OSC Hearing and Review
posted on
Jan 08, 2009 07:54AM
January 8, 2009
HudBay Notified of Request for OSC Hearing and Review
TORONTO, ONTARIO--(Marketwire - Jan. 8, 2009) - 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.
