By Sheri Kasprzak
New York, April 10 - HudBay Minerals Inc. said it arranged a C$20,075,000 private placement.
The offering includes 1.46 million flow-through shares at C$13.75 apiece.
A syndicate of underwriters led by GMP Securities LP and including Desjardins Securities Inc., Dundee Securities Corp., TD Securities Inc., Wellington West Capital Markets Inc., Canaccord Capital Corp., Orion Securities Inc. and Paradigm Capital Inc. will place the shares.
The deal is expected to close April 25.
Proceeds will be used for exploration on the company's Flin Flon greenstone belt properties.
Based in Winnipeg, Man., HudBay is a mineral exploration company focused on properties in Ontario, Michigan and New York State.
| Issuer: | HudBay Minerals Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$20,075,000
|
| Shares: | 1.46 million
|
| Price: | C$13.75
|
| Warrants: | No
|
| Underwriters: | GMP Securities LP (lead), Desjardins Securities Inc., Dundee Securities Corp., TD Securities Inc., Wellington West Capital Markets Inc., Canaccord Capital Corp., Orion Securities Inc., Paradigm Capital Inc.
|
| Pricing date: | April 10
|
| Settlement date: | April 25
|
| Stock symbol: | Toronto: HBM
|
| Stock price: | C$11.70 at close April 10
|
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