Hudbay Announces C$242 Million Bought Deal Financing
TSX, NYSE – HBM
2017 No. 13
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVIC ES OR DISSEMINATION IN
THE UNITED STATES.
Hudbay Announces C$242 Million Bought Deal Financing
Toronto, Ontario, September 7, 2017 – Hudbay Minerals Inc. (“Hudbay” or the “company”) (TSX, NYSE: HBM)
today announced that it has entered into an agreement with a syndic ate of underwriters co-led by RBC Capital
Markets, BMO Capital Markets and Scotiabank (collectively, the "Underwriters"), which have agreed to purchase, on
a bought deal basis, 24,000,000 common shares (the "Shares" ) of the company at a price of C$10.10 per Share, for
aggregate gross proceeds of C$242,400, 000. The company has agreed to grant the Underwriters an over-allotment
option, exercisable in whole or in part, on or following the closing of the offering and for a period of 30 days thereafter,
to purchase up to an additional 3,600,000 Shares to cove r over-allotments, if any, and for market stabilization
purposes. In the event that the over-allotment option is ex ercised in its entirety, the aggregate gross proceeds to the
company from the offering will be C$278,760,000.
The company intends to use the net proceeds from 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 will be offered by way of a short form prospectus to be filed in all of the provinces and territories of
Canada pursuant to National Instrument 44-101 Short Form Prospectus Distributions.
The offering is scheduled to close on or about September 27 , 2017 and is subject to certain conditions including, but
not limited to, the receipt of all necessary regulatory a pprovals including the approval of the Toronto Stock Exchange
and the applicable securities regulatory authorities.
This press release is not an offer or a solicitation of an offer of common shares for sale in the United States.
The common shares have not been and will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an applicable exemption
from registration.
Forward-Looking Information
This news release contains “forward-looking statem ents” and “forward-looking information” (collectively, “forward-
looking information ”) within the meaning of applicable Canadian a nd United States securities legislation. All
information contained in this news release, other than st atements of current and histori cal fact, is forward-looking
information. Often, but not always, forw ard-looking information can be identified by the use of words such as “plans”,
“expects”, “budget”, “guidance”, “scheduled”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “objective”, “goal”,
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“understands”, “anticipates” and “believes” (and variations of these or similar words) and statements that certain
actions, events or results “may”, “could”, “would”, “should”, “might” “occur” or “be achieved” or “will be taken” (and
variations of these or similar expressions). All of the forw ard-looking information in this news release is qualified by
this cautionary note.
Forward-looking information includes, but is not limited to, statements re lated to the Offering, use of proceeds, the
anticipated closing date and receipt of all necessary regula tory approvals, information that relates to, among other
things, Hudbay’s objectives, strategies, and intentions and future financial and operating performance and prospects,
Hudbay’s intention to complete the proposed offering and Hudbay’s expectations as to the use of proceeds from the
offering. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking
information is based on, among other things, opinions, assu mptions, estimates and analyses that, while considered
reasonable by Hudbay at the date the forward-looking informa tion is provided, inherently are subject to significant
risks, uncertainties, contingenc ies and other factors that may cause actual results a nd events to be materially
different from those expressed or implied by the forward-looking information. The material factors or assumptions that
Hudbay identified and were applied by Hudbay in drawing conclusions or making forecasts or projections set out in
the forward-looking information include, but are not lim ited to, the closing of the Offering, the execution of Hudbay’s
business and growth strategies, including the success of its strategic investments and init iatives; the availability of
additional financing, if needed; the ability to complete pr oject targets on time and on budget and other events that
may affect Hudbay’s ability to develop its projects; and no significant and continuing adv erse changes in general
economic conditions or conditions in the financial markets.
The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those
expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated
with the mining industry, such as economic factors (inclu ding future commodity prices, currency fluctuations, energy
prices and general cost escalation), uncertainties related to the development and operat ion of Hudbay’s projects
(including risks associated with the permitting, development and economics of the Rosemont project and related legal
challenges), risks related to the maturing nature of Hudbay’s 777 and Reed mines and their impact on the related Flin
Flon metallurgical complex, dependence on key personnel and employee and union relations, risks related to the
schedule for mining the Pampacancha deposit (including the timing and cost of acquiring the required surface rights),
risks related to the flexibility, cost, schedule and economics of the capital projects int ended to increase processing
capacity for Lalor ore, risks related to political or social unrest or change, risks in respect of aboriginal and community
relations, rights and title claims, operational risks and hazards , including unanticipated environmental, industrial and
geological events and developments and the inability to in sure against all risks, failure of plant, equipment,
processes, transportation and other infrastructure to ope rate as anticipated, compliance with government and
environmental regulations, including permitting requirements and anti-bribery legislation, depletion of Hudbay’s
reserves, volatile financial markets that may affect Hudbay’s ability to obtain additional financing on acceptable terms,
the failure to obtain required approvals or clearances from government authorities on a timely basis, uncertainties
related to the geology, continuity, grade and estimates of mineral reserves and res ources, and the potential for
variations in grade and recovery rates, uncertain costs of re clamation activities, Hudbay’s ability to comply with its
pension and other post-retirement obligatio ns, Hudbay’s ability to abide by the covenants in its debt instruments and
other material contracts, tax refunds , hedging transactions, as well as the risks discussed under the heading “Risk
Factors” in Hudbay’s most recent annual information form.
Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove
incorrect, actual results could vary materially from thos e expressed or implied in the forward-looking information.
Accordingly, the reader should not place undue reliance on forward-looking information. Hudbay does not assume
any obligation to update or revise any forward-looking information after the date of this news release or to explain any
material difference between subsequent actual events and any forward-looking information, except as required by
applicable law.
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About Hudbay
Hudbay (TSX, NYSE: HBM) is an integrated mining compan y primarily produc ing copper concent rate (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 zi nc 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 l ong-life, low-cost mines in the
Americas. Hudbay’s mission is to create sustainable valu e through the acquisition, development and operation of
high-quality and growing long-life deposits in mining-frie ndly jurisdictions. The company is governed by the Canada
Business Corporations Act and its shares are listed under the symbol "HBM" on the To ronto Stock Exchange, New
York Stock Exchange and Bolsa de Valores de Lima. Hudba y also has warrants listed under the symbol “HBM.WT”
on the Toronto Stock Exchange and “HBM/WS” on the New York Stock Exchange.
For further information, please contact:
Candace Brûlé
Director, Investor Relations
(416) 814-4387