Hudbay Minerals completes $242M private placement

News Release

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Hudbay Completes C$242 Million Equity Financing

Toronto, Ontario, September 27, 2017 – Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM) announced today the closing of its previously announced equity offering of 24,000,000 common shares of the company (the “Shares”) at a price of C$10.10 per Share, for gross proceeds of C$242,400,000.

The offering was underwritten by a syndicate co-led by RBC Capital Markets, BMO Capital Markets, and Scotiabank and included CIBC World Markets Inc., GMP Securities L.P., TD Securities Inc., National Bank Financial Inc., Barclays Capital Canada Inc., Canaccord Genuity Corp., Cormark Securities Inc., Haywood Securities Inc., Merrill Lynch Canada Inc., Citigroup Global Markets Canada Inc., Eight Capital, Macquarie Capital Markets Canada Ltd., Morgan Stanley Canada Ltd. and Raymond James Ltd.

The company intends to use the net proceeds of the offering to advance its current growth projects, enhance its financial flexibility to pursue other growth opportunities, reduce debt and for general corporate purposes.

The Shares were offered by way of a short form prospectus filed in all of the provinces and territories of Canada pursuant to National Instrument 44-101 – Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”).
This press release is not an offer or a solicitation of an offer of common shares for sale in the United States. The Shares have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an applicable exemption from registration.

About Hudbay
Hudbay (TSX, NYSE: HBM) is an integrated mining company primarily producing copper concentrate (containing copper, gold and silver) and zinc metal. With assets in North and South America, the company is focused on the discovery, production and marketing of base and precious metals. Directly and through its subsidiaries, Hudbay owns four polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), and a copper project in Arizona (United States). The company’s growth strategy is focused on the exploration and development of properties it already controls, as well as other mineral assets it may acquire that fit its strategic criteria. Hudbay’s vision is to become a top-tier operator of long-life, low-cost mines in the Americas. Hudbay’s mission is to create sustainable value through the acquisition, development and operation of high-quality and growing long-life deposits in mining-friendly jurisdictions. The company is governed by the Canada Business Corporations Act and its shares are listed under the symbol “HBM” on the Toronto Stock Exchange, New York Stock Exchange and Bolsa de Valores de Lima. Hudbay also has warrants listed under the symbol “HBM.WT” on the Toronto Stock Exchange and “HBM/WS” on the New York Stock Exchange. Further information about Hudbay can be found on www.hudbay.com.

For further information, please contact:
Candace Brûlé
Director, Investor Relations
(416) 814-4387
candace.brule@hudbay.com