Hudbay Minerals completes acquisition of Copper Mountain Mining

Hudbay Minerals (HBM) announces that it has closed its previously announced court-approved plan of arrangement with Copper Mountain Mining Corporation (CPPMF), pursuant to which Hudbay has acquired all of the issued and outstanding common shares of Copper Mountain effective as of today’s date. Copper Mountain is now a wholly-owned subsidiary of Hudbay and, in accordance with the terms of the Transaction, former Copper Mountain shareholders received 0.381 of a Hudbay share for each Copper Mountain share previously held. Peter Kukielski, Hudbay’s President and Chief Executive Officer, commented, “We look forward to the formal integration of Copper Mountain into our complementary portfolio of operating assets. By applying our technical expertise, we expect to unlock significant annual operating efficiencies and synergies at the mine to drive further value for shareholders. This transaction creates a larger, more resilient operating platform that enhances our copper exposure, accelerates our deleveraging efforts, and positions us to more efficiently allocate capital to prudently advance our enviable organic growth pipeline.”