Hudbay Minerals Inc. (“Hudbay” or the “company”) ((TSX, NYSE:HBM) today announced that, pursuant to the terms of an asset purchase agreement dated May 18, 2022 between, among others, American Copper Development Corporation (“American Copper“) and Hudbay’s wholly owned subsidiary, Mason Resources (US) Inc. (“Mason“), American Copper issued 9,896,591 common shares (the “Consideration Shares“) to Mason as partial consideration for the acquisition of a 100% interest in Mason’s Lordsburg property in New Mexico, United States. The Consideration Shares represent approximately 12.0% of American Copper’s currently issued and outstanding shares.
Promptly following the closing of the transaction, Mason entered an agreement to transfer the Consideration Shares to Hudbay at fair market value. Prior to the transaction, Hudbay held no common shares of American Copper.
This news release is issued pursuant to applicable Canadian securities laws. A copy of the corresponding early warning report will be filed and be available on American Copper’s profile on SEDAR at www.sedar.com. The head office of American Copper is located at 2710 Granville Street, Suite 200, Vancouver, British Columbia, V6C 1S4. The head office of Hudbay is located at 25 York St, Suite 800, Toronto, Ontario, M5J 2V5.
