Brief: Hudbay And Copper Mountain Combine To Create A Premier Americas-Focused Copper Producer

Copper Mountain Mining

13/04/2023 13:56

April 13 (Reuters) - Copper Mountain Mining Corp
 CMMC.TO :
    * HUDBAY AND COPPER MOUNTAIN COMBINE TO CREATE A PREMIER
AMERICAS-FOCUSED COPPER PRODUCER
    * HUDBAY WILL ACQUIRE ALL OF ISSUED AND OUTSTANDING COMMON
SHARES
OF COPPER MOUNTAIN
    * EXISTING HUDBAY AND COPPER MOUNTAIN SHAREHOLDERS WILL OWN
APPROXIMATELY 76% AND 24% OF HUDBAY, RESPECTIVELY
    * GIL CLAUSEN HAS POSTPONED HIS RETIREMENT AND WILL REMAIN
AS
PRESIDENT AND CEO OF CO UNTIL CLOSING.
    * TRANSACTION IS EXPECTED TO BE COMPLETED LATE IN Q2 OR
EARLY IN
Q3 OF 2023.
    * FOLLOWING COMPLETION  SHARES OF COPPER MOUNTAIN WILL BE
DE-LISTED FROM TORONTO STOCK EXCHANGE AND AUSTRALIAN EXCHANGE
    * EACH COPPER MOUNTAIN SHAREHOLDER WILL RECEIVE 0.381 OF A
HUDBAY
COMMON SHARE FOR EACH COPPER MOUNTAIN  SHARE
    * CONSIDERATION REPRESENTS APPROXIMATELY C$2.67 PER COPPER
MOUNTAIN COMMON SHARE AND A US$439 MILLION EQUITY VALUE

Source text for Eikon:  ID:nGNX3ZqFBJ 
Further company coverage:  CMMC.TO 

 ((Reuters.Briefs@thomsonreuters.com;))