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HUDBAY MINERALS AND NORSEMONT MINING ANNOUNCE MAILING OF OFFER AND TAKE-OVER BID CIRCULAR AND DIRECTORS' CIRCULAR
Jan. 24, 2011 (Canada NewsWire Group) -- TORONTO, Jan. 24 /CNW/ - HudBay Minerals Inc. (&qu...
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\n Jan. 24, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Jan. 24 /CNW/ - HudBay Minerals Inc. ("HudBay") (TSX:HBM) (NYSE:HBM) and Norsemont Mining Inc. ("Norsemont") (TSX:NOM) (BVL:NOM) announced today the mailing of\n HudBay's take-over bid circular offering to acquire (the "Offer") all\n of the outstanding common shares of Norsemont and Norsemont's\n directors' circular recommending acceptance of the Offer, as\n contemplated by the previously announced support agreement between\n HudBay and Norsemont. Under the Offer, holders of common shares of\n Norsemont have the right to elect to receive as consideration for each\n deposited Norsemont common share, either: (a) 0.2617 of a HudBay common\n share and $0.001 in cash, or (b) cash in an amount that is greater than\n $0.001, not to exceed $4.50, and, if less than $4.50 in cash is\n elected, the number of HudBay common shares equal to the excess of\n $4.50 over such elected cash amount, divided by $17.19, subject, in\n each case, to pro-ration and rounding as set out in the Offer and\n take-over bid circular.  The Offer is open for acceptance until 5:00 pm\n (Toronto time) on March 1, 2011, unless the Offer is extended or\n withdrawn in accordance with its terms.\n\n\nAs previously announced, the Board of Directors of Norsemont, upon the\n recommendation of the Special Committee of the Board of Directors and\n following consultation with its financial and legal advisors,\n dete...