A Major In The Making
Leading Base Metals Mining Company - Exploration, Mining, Metal Production and Sales
Message: Sets Record Date for March 25, 2009 Shareholders' Meeting
| February 16, 2009 |
| HudBay Sets Record Date for March 25, 2009 Shareholders' Meeting |
| TORONTO, ONTARIO--(Marketwire - Feb. 16, 2009) - HudBay Minerals Inc. ("HudBay", "the Company") (TSX:HBM) has set February 23, 2009 as the record date for a special meeting of shareholders to be held on March 25, 2009 (the "Special Meeting"), which will be held in lieu of the previously announced March 31, 2009 special meeting of shareholders. The business of the Special Meeting will be to consider a requisition made by a shareholder of the Company under section 143 of the Canada Business Corporations Act ("CBCA"), and to consider the issuance of the Company's common shares in connection with the proposed arrangement under section 192 of the CBCA involving HudBay's acquisition of all of the outstanding common shares in the capital of Lundin Mining Corporation (TSX:LUN)(OMX:LUMI)(NYSE:LMC)("Lundin Mining"). HudBay will not appeal the Ontario Securities Commission's (the "OSC") January 23, 2009 decision in which the OSC set aside the Toronto Stock Exchange's December 10, 2008 decision granting conditional approval for the listing of the HudBay shares to be issued as consideration for the issued and outstanding shares of Lundin Mining. HudBay disagrees with the recently received notice of breach from Lundin Mining regarding alleged breaches of certain terms of the arrangement agreement entered into in connection with the proposed acquisition of Lundin Mining. The alleged breaches arise from the OSC's January 23, 2009 decision that requires the approval of the Company's shareholders before the proposed acquisition of Lundin Mining can be completed. HudBay has notified Lundin Mining of its intention to hold the Special Meeting on March 25, 2009. 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. |
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