Key Developments: Augusta Resource Corp (AZC.TO)

AZC.TO on Toronto Stock Exchange

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1 Aug 2014
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Latest Key Developments (Source: Significant Developments)

HudBay Minerals Inc announces completion of offer to acquire Augusta Resource Corp
Tuesday, 29 Jul 2014 07:52pm EDT 

HudBay Minerals Inc:Says that it has taken up the additional 6,100,762 common shares of Augusta Resource Corporation that were validly deposited under Hudbay's offer to acquire all of the outstanding Augusta Shares not already owned by Hudbay or its affiliates.Hudbay now owns 145,393,108 (about 96%) of the outstanding Augusta Shares.Says the offer has terminated and Hudbay intends to acquire, through a subsequent acquisition transaction, the Augusta Shares it does not already own for the same consideration per Augusta Share as was paid under the Offer.  Full Article

HudBay Minerals Inc extends offer for Augusta Resource Corporation
Friday, 20 Jun 2014 04:34pm EDT 

HudBay Minerals Inc:Extends its offer to acquire all of outstanding common shares (Augusta Shares) of Augusta Resource Corporation (Augusta) not already owned by Hudbay for consideration per Augusta Share of 0.315 of a Hudbay common share (Offer) until June 20, 2014.  Full Article

HudBay Minerals Inc extends offer for Augusta
Tuesday, 27 May 2014 04:29pm EDT 

HudBay Minerals Inc:Extends its offer to acquire all of the outstanding common shares of Augusta Resource Corporation (Augusta) not already owned by Hudbay for consideration per Augusta Share of 0.315 of Hudbay common share (Offer) until June 9, 2014.  Full Article

Hudbay Minerals Inc extends offer to acquire Augusta
Monday, 5 May 2014 05:00am EDT 

HudBay Minerals Inc:Says in context of decision of British Columbia Securities Commission on May 2, 2014, it will be amending its offer to acquire all of outstanding common shares of Augusta Resource Corporation (Augusta).To provide 10-day extension of Offer if Hudbay takes up any shares under Offer and extend the expiration of the Offer.Offer will be open for acceptance until May 16, 2014.  Full Article

Augusta Resource Corp announces continuance of shareholder rights plan
Friday, 2 May 2014 08:36pm EDT 

Augusta Resource Corp:Announced that the British Columbia Securities Commission has ruled in favour of the continuance of Augusta's shareholder rights plan approved by its shareholders at annual general and special meeting.The rights plan remains in place, unless HudBay Minerals Inc. extends its offer to purchase Augusta common shares to July 16 and in the event that shares are taken up, HudBay then extends its offer for an additional 10 days.If HudBay does extend its offer to July 16 the rights plan will be cease traded effective as of July 15.Augusta's shareholder rights plan will continue to serve its purpose by precluding HudBay from acquiring a minority blocking position while Augusta advances permitting for its Rosemont project and pursues strategic alternatives.  Full Article

Augusta Resource Corp's Board unanimously recommends shareholders reject Hudbay Minerals Inc's Unsolicited Offer
Monday, 24 Feb 2014 07:00am EST 

Augusta Resource Corp:Board unanimously recommends that Augusta shareholders REJECT the unsolicited offer from Hudbay Minerals Inc. to acquire all of the outstanding common shares of Augusta.Scotia Capital and TD Securities are acting as financial advisors to Augusta.Davies Ward Phillips & Vineberg LLP and Cravath, Swaine & Moore LLP are acting as its legal advisors.  Full Article

HudBay Minerals Inc to Acquire Augusta Resource Corp.
Sunday, 9 Feb 2014 11:00pm EST 

HudBay Minerals Inc:Announced it's intends to commence an offer to acquire all of the issued and outstanding common shares of Augusta Resource Corporation (Augusta) not already owned by HudBay.Says under the terms of the offer, Augusta shareholders will be entitled to receive 0.315 of a Hudbay common share for each Augusta common share held, representing about C$2.96 per Augusta common share.Says the offer values Augusta at an enterprise value of about C$540 million on a fully diluted in the money basis.  Full Article

Augusta Resource Corp closes red kite loan facility increase
Monday, 16 Dec 2013 04:30pm EST 

Augusta Resource Corp:Says further to its news release of Nov 20, it has closed the loan facility for $26.6 million with RK Mine Finance Trust I and has drawn down the first tranche.Says in connection with the Expanded Loan, Aug. paid an arrangement fee of $1,120,000 and issued a total of 3.3 million common share purchase warrants to Red Kite with an exercise price of $2.12 per share.Says the Warrants expire on Dec 12, 2016.  Full Article

Augusta Resource Corp Arranges USD26 Million Increase To Red Kite Loan Facility
Wednesday, 20 Nov 2013 04:15pm EST 

Augusta Resource Corporation announced that the Company and RK Mine Finance Trust I ("Red Kite") have signed a term sheet for a USD26,000,000 increase ("Additional Commitment") to the existing USD83,000,000 Red Kite loan ("Existing Loan"). The Additional Commitment and the Existing Loan, together totalling USD109,000,000, are referred to as the Expanded Loan. The Additional Commitment will be separated into four tranches: The first tranche of USD3.5 million will be available for draw down upon completion and signing of final documentation. The second tranche of USD10 million will be available for draw down upon publication of Rosemont's final Environmental Impact Statement (EIS) and draft Record of Decision (ROD) by the U.S. Forest Service (USFS). The final EIS is expected to be published in November 2013, with the printed final EIS and draft ROD to be issued by mid-December 2013. The third tranche of USD7.5 million will be available for draw down upon publication of Rosemont's final ROD by the USFS. The fourth tranche of USD5 million will be available for draw down upon issuance of the final Clean Water Action Section 404 Permit by the Army Corps of Engineers. The terms for the Expanded Loan are substantially similar to the Existing Loan, including interest payable at LIBOR plus 4.50%, except the Company has the option to extend the maturity date of the entire loan amount by up to three months to no later than October 21, 2014 for an extension fee.  Full Article

Augusta Resource Corp Closes First Tranche of CAD10 Million Convertible Notes Financing
Thursday, 5 Sep 2013 07:30am EDT 

Augusta Resource Corp announced that it closed the first tranche for CAD2,000,000 of the previously disclosed financing providing for an aggregate principal amount of CAD10,000,000 in convertible unsecured notes of the Company. The Notes have a five year maturity date from the time of issuance, bear interest at 7% per annum, and will have a conversion price equal to a premium of 30% of the volume weighted average trading price of the Company's common shares on the TSX for the five trading days ending the last business day before the closing date of each tranche. The Company, at its sole option and any time prior to October 31, 2013, may issue Note Offerings in multiple stages aggregating to the $10,000,000. The first CAD2,000,000 Note Offering closed on September 4, 2013 with a conversion price of CAD2.87.  Full Article

UPDATE 1-Augusta agrees to revised HudBay takeover offer

June 23 - Augusta Resource Corp said it agreed to be bought by HudBay Minerals Inc after the company raised its offer to buy Augusta shares it does not already own.

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