Hudbay Completes Rockcliff Acquisition; Further Consolidates Snow Lake Operations and Adds to Prospective Land Package
TORONTO, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay”) (TSX, NYSE: HBM) is pleased to announce that it has completed its acquisition of Rockcliff Metals Corp. (“Rockcliff”).
- TORONTO, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay”) (TSX, NYSE: HBM) is pleased to announce that it has completed its acquisition of Rockcliff Metals Corp. (“Rockcliff”).
- Hudbay acquired all of the issued and outstanding common shares of Rockcliff that it did not already own pursuant to a court-approved plan of arrangement, effective as of today’s date (the “Transaction”).
- As a result of closing the Transaction, Rockcliff is now a wholly-owned subsidiary of Hudbay and, in accordance with the terms of the Transaction, former Rockcliff shareholders have been issued 0.006776 of a Hudbay common share for each Rockcliff share previously held.
- Rockcliff also owns a 100% interest in six additional deposits in the Snow Lake region and is one of the largest landholders in the Snow Lake area, with approximately 1,800 km2 across all its properties.