Waterton Files Early Warning Report in respect of Hudbay Minerals Inc.

TORONTO, Aug. 13, 2019 /CNW/ - Waterton Global Resource Management, Inc. ("WGRM Inc."), on behalf of Waterton Mining Parallel Fund Offshore Master, LP ("Waterton Mining LP") and Waterton Precious Metals Fund II Cayman, LP ("Waterton Fund II") (collectively, "Waterton"), announced today that Waterton acquired 329,306 common shares (the "Common Shares") of Hudbay Minerals Inc. ("Hudbay"), representing approximately 0.1260% of the outstanding Common Shares, through market purchases on the New York Stock Exchange on August 12, 2019 at an average price of approximately US$3.3607 per Common Share or US$1,106,699 in the aggregate. 

Immediately prior to giving effect to the acquisition, Waterton owned and exercised control and direction over, in the aggregate, 36,673,784 Common Shares, representing approximately 14.0366% of the outstanding Common Shares. Immediately after giving effect to the acquisition, Waterton owns and exercises control and direction over, in the aggregate, 37,003,090 Common Shares, representing approximately 14.1627% of the outstanding Common Shares.   

The Common Shares were acquired for investment purposes and for other reasons detailed in Item 5 of the early warning report filed by Waterton under applicable Canadian securities laws. Waterton may, depending on market and other conditions, acquire additional Common Shares through market transactions, private agreements, treasury issuances, exercise of warrants, or otherwise, or may sell all or some portion of the Common Shares, or may continue to hold the Common Shares.  

For further information and to obtain a copy of the early warning report filed by Waterton, please see Hudbay's profile on the SEDAR website www.sedar.com or contact Richard Wells, Chief Financial Officer of WGRM Inc. at 416-504-3507.

The head office address of WGRM Inc. is Commerce Court West, 199 Bay Street, Suite 5050, Toronto, Ontario, M5L 1E2, Canada. The head office address of each of Waterton Mining LP and Waterton Fund II is Ugland House, Grand Cayman, Cayman Islands, KY1-1104.

The head office address of Hudbay is 25 York Street, Suite 800, Toronto, Ontario, Canada M5J 2V5.

SOURCE Waterton Global Resource Management, Inc.

Richard Wells, Chief Financial Officer of WGRM Inc. at 416-504-3507