By Sheri Kasprzak
Atlanta, June 6 - HudBay Minerals Inc. said it plans to raise up to C$7.5 million in a private placement.
The offering includes up to 2,192,983 flow-through shares at C$3.42 each.
The deal, which is expected to wrap up June 22, is being completed through a syndicate of underwriters led by GMP Securities Ltd.
Based in Toronto, HudBay is a mineral exploration and production company. The proceeds will be used for exploration and development on the company's Manitoba and Saskatchewan properties.
| Issuer: | HudBay Minerals Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$7.5 million
|
| Shares: | 2,192,983
|
| Price: | C$3.42
|
| Warrants: | No
|
| Placement agent: | GMP Securities Ltd. (lead)
|
| Pricing date: | June 3
|
| Settlement date: | June 22
|
| Stock price: | C$2.97 at close June 3
|
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