Hudbay Minerals Initiates Normal Course Issuer Bid
Hudbay Minerals announced that the Toronto Stock Exchange has approved its notice of intention to commence a normal course issuer bid for its common shares. The NCIB will be made in accordance with the requirements of the Toronto Stock Exchange and applicable securities laws. Pursuant to the NCIB, Hudbay is authorized to acquire up to a maximum of 19,863,997 shares, representing 5% of its issued and outstanding Shares as of May 21 for cancellation over a 12-month period. The actual number of shares which may be purchased by Hudbay pursuant to the NCIB and the timing of such purchases will be determined by management of the company and remains subject to a number of factors, including market conditions, share price, available cash resources and other opportunities to invest capital for growth. There cannot be any assurance as to how many shares, if any, will ultimately be purchased pursuant to the NCIB.
