Augusta Resource Corp to merge with Hudbay subsidiary
TORONTO (miningweekly.com) – Canadian base metals miner Hudbay Minerals on Monday announced that it would amalgamate its newly acquired project development company Augusta Resource Corp with one of its indirect, wholly owned subsidiaries.
Following a month-long hostile pursuit of Augusta, the two companies in July agreed to friendly terms for a sweetened all-scrip takeover offer, valued at C$555-million, which saw Hudbay, which already owned a 16% stake in Augusta, gain control of the prospective Rosemont copper project, near Tucson, in Arizona.
Hudbay on Monday pointed out that Augusta shareholders would receive the same payment for their shares under the original offer, which entailed 0.315 of a Hudbay common share and 0.17 of a purchase warrant.
Despite not saying how many Augusta shares were still outstanding, Hudbay explained that it would use its majority shareholding in Augusta to effect the changes at a special meeting to be held on September 19, with consideration for ‘minority approval’ according to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation