“We`re not too surprised, as we thought the board would only see a slight change due to Waterton`s efforts,” Credit Suisse analyst Mark Llanes wrote in a statement. “Overall, we see this positive comparison.” Hudbay`s common shares were acquired for investment purposes and for other reasons listed in item 5 of the Early Warning Report to be submitted in accordance with applicable Canadian securities laws. Waterton may, in collaboration with Waterton Mining LP and Waterton Fund LP, acquire additional common shares of Hudbay through market transactions, private agreements, cash issuances, exercise of warrants or otherwise, or sell or hold common shares of Hudbay, subject to market and other conditions. A copy of the Change Agreement will be available under Hudbay`s profile on SEDAR. The Toronto-based miner reached an agreement with shareholder Waterton in May 2019 for three of its nominees, including Peter Kukielski, David Smith and Daniel Muñiz Quintanilla, to reach an agreement. Immediately prior to the agreement to amend the Transaction Agreement and immediately following the Agreement amending the Transaction Agreement, Waterton owned and exercised control and management of a total of 39,186,013 common shares of Hudbay, as well as Waterton Mining Parallel Fund Offshore Master, LP (“Waterton Mining LP”) and Waterton Precious Metals Fund II Cayman, LP (“Waterton Fund II”). approximately 14.998% of hudbay`s outstanding common shares. Hudbay (TSX, NYSE: HBM) is a diversified mining company that primarily produces concentrated copper (with copper, gold and silver) and zinc metal. Directly and through its subsidiaries, Hudbay owns three polymetalate mines, four ore concentrators and a zinc production plant in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), as well as copper projects in Arizona and Nevada (United States).
The company`s growth strategy focuses on the exploration, exploitation, exploitation and optimization of the already controlled concession area, as well as other mineral resources that it can acquire and meet its strategic criteria. Hudbay`s vision is to be a responsible, first-class operator of longevity and profitable mines in North and South America. Hudbay`s mission is to create sustainable value by acquiring, developing and operating high-quality and sustainable deposits, with exploration potential in jurisdictions that support responsible mining, and to ensure that the regions and municipalities in which the company operates benefit from its presence. The company is subject to the Canada Business Corporations Act and its shares are listed under the symbol “HBM” on the Toronto Stock Exchange, the New York Stock Exchange and Bolsa de Valores de Lima. For more information about Hudbay, please see www.hudbay.com. Hudbay Minerals and investment firm Waterton Global Resource Management, listed on TSX and NYSE, announced Tuesday that they have agreed to change some of the standstill provisions of the deal they entered into last year. . . .