Skye Resources and HudBay Minerals complete US$460 million business combination

On August 26, 2008, HudBay Minerals Inc. (TSX: HBM) and Skye Resources Inc. (TSX: SKR) announced that the business combination between the two companies had been completed. Pursuant to a aplan of arrangement, all of Skye's common shares were exchanged for HudBay common shares on the basis of 0.61 HudBay common shares and C$0.001 in cash for each Skye common share held. Fasken Martineau acted as external legal counsel to Skye with a team that included: John Turner, Greg Ho Yuen, Krisztian Toth, Lata Casciano, Aaron Atkinson, Ron Nobrega, Tracey Cohen and Huy Do.