HudBay Minerals invests in VMS Ventures

On February 14, 2011, Canadian mining company HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM) announced that it had acquired 6,667,000 common shares of VMS Ventures Inc. for total consideration of $3,333,500. The shares were acquired in a private transaction pursuant to an exemption from the prospectus and registration requirements of applicable securities laws and were acquired for investment purposes.

HudBay currently owns and has control over 17,585,000 common shares, representing approximately 14.3% of the issued and outstanding common shares of VMS Ventures.

HudBay was advised in this transaction by Fasken Martineau with a team that included Chuck Higgins, Georald Ingborg and Michael Gleeson (corporate/securities) and William Bies (tax).