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Hudbay Minerals completes sale of its 51% interest in the Back Forty Project

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Overview

Client

Hudbay Minerals Inc.

On January 17, 2014, Hudbay Minerals Inc. (“Hudbay”) announced that it has completed the sale of its 51% interest in the Back Forty Project in Michigan's Upper Peninsula to its joint venture partner Aquila Resources Inc. (“Aquila”), its partner in the Project. As partial consideration for the sale of its interest, Hudbay received common shares of Aquila, milestone payments tied to the development of the Back Forty Project and a net smelter return royalty on a portion of the Back Forty property. Hudbay is a Canadian mining company focused on the discovery, production and marketing of base and precious metals. Hudbay was advised by a team of Fasken Martineau lawyers including Aaron Atkinson, Michael Bourassa and Jessica Catton (Mergers & Acquisitions).

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