Hudbay Completes C$242 Million Equity Financing
TSX, NYSE – HBM
2017 No. 14
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., C anaccord 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 requirement s 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 und er 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.
Forward-Looking Information
This news release contains “forward -looking statements” and “forward -looking information” (collectively, “forward -
looking information”) within the meaning of applicable Canadian and United States securities legislation. All
information contained in this news release, other than statements of current and histori cal fact, is forward -looking
information. Often, but not always, forward -looking information can be identified by the use of words such as “plans”,
“expects”, “budget”, “guidance”, “scheduled”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “ob jective”, “goal”
“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
TSX, NYSE – HBM
2017 No. 14
2
variations of these or similar expressions). All of the forward -looking information in this news release is qualified by
this cautionary note.
Forward-looking information includes, but is not limited to, statements related to, among other things, Hudbay’s
objectives, strategies, and intentions, its future financial and operating performance and prospects and its
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. F orward-looking information is based on, among other things, opinions,
assumptions, estimates and analyses that, while considered reasonable by Hudbay at the date the forward-looking
information is provided, inherently are subject to significant risks, un certainties, contingencies and other factors that
may cause actual results and 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 limited
to, the execution of Hudbay’s business and growth strategies, including the success of its strategic investments an d
initiatives; the availability of additional financing, if needed; the ability to complete project targets on time and on
budget and other events that may affect Hudbay’s ability to develop its projects; and no significant and continuing
adverse 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 (including future commodity prices, currency fluctuations, energy
prices and general cost escalation), uncertainties related to the development and o peration 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 rela ted 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 t he flexibility, cost, schedule and economics of the capital projects intended 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 cla ims, operational risks and hazards, including unanticipated environmental, industrial and
geological events and developments and the inability to insure against all risks, failure of plant, equipment,
processes, transportation and other infrastructure to o perate 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 resources, and the potentia l for
variations in grade and recovery rates, uncertain costs of reclamation activities, Hudbay’s ability to comply with its
pension and other post -retirement obligations, 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 those 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.
TSX, NYSE – HBM
2017 No. 14
3
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 Ar izona (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