Hudbay Minerals, a Canadian mining company, has completed acquisition of the stake it previously did not own in Mason Resources for C$0.40 ($0.29) per share.
Hudbay president and CEO Alan Hair said: “We are pleased to complete the acquisition of Mason and add the Ann Mason project to our pipeline.
“The Ann Mason project meets our stringent acquisition criteria and has the potential to be a long-life, low-cost mine in one of the world’s best jurisdictions for mining, and it is at a stage where we can leverage our management expertise in exploration, engineering, permitting and construction to create value for our shareholders.”
With the Arrangement now complete, the Common Shares will be de-listed from the Toronto Stock Exchange and OTC, and Mason will apply to cease to be a reporting issuer under applicable Canadian securities laws.
Source: Company Press Release