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Sunday, July 3, 2011

HudBay acquires 13 million more MacDonald Mines shares

Ticker Symbol: C:HBM C:BMK
HudBay acquires 13 million more MacDonald Mines shares
HudBay Minerals Inc (C:HBM)
Shares Issued 171,385,203
Last Close 6/29/2011 $14.12
Thursday June 30 2011 - News Release
Also MacDonald Mines Exploration Ltd (2) (C:BMK) News Release
Mr. John Vincic of HudBay reports
HUDBAY MINERALS MAKES INVESTMENT IN MACDONALD MINES
HudBay Minerals Inc. has acquired 13.5 million Class A shares of MacDonald Mines Exploration Ltd. at a purchase price of 13 cents per share for total consideration of $1,755,000. The shares were acquired on a private placement basis and are subject to customary resale restrictions.
As a result of the investment, HudBay currently owns and has control over 32.56 million shares (approximately 15.4 per cent of the issued and outstanding shares) and 9.53 million share purchase warrants, which, together with the shares, represent approximately 19.1 per cent of the issued and outstanding shares on a partially diluted basis.
The acquisition of the shares is being made to assist in the financing, exploration and development of MacDonald's mineral properties.
We seek Safe Harbor.

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