Hudbay Minerals completes US$402 million bought deal equity offering

Goodmans LLP advised Hudbay Minerals Inc. in connection with the public offering of its common shares for aggregate gross proceeds of US$402,477,000, including the full exercise of the underwriters’ overallotment.

Hudbay intends to use the net proceeds of the offering to fund near-term growth initiatives, including acceleration of mine pre-stripping activities and mill optimization initiatives at Copper Mountain, to enhance balance sheet flexibility through debt repayments as part of its "3P" plan for a sanctioning decision on Copper World, to evaluate mill throughput enhancement opportunities at Constancia and New Britannia, and for general corporate purposes.