HudbayIs doing it again!!!!!!!!
When is going to be our chance!!!!!!!!!!!!!!!!???????????????/
Mr. John Vincic of HudBay reports
HUDBAY MINERALS (TSX: HBM / NYSE: HBM) MAKES INVESTMENT IN CUORO RESOURCES
HudBay Minerals Inc. has entered into a subscription agreement with Cuoro Resources Corp. (TSX:v: CUA), providing for the sale to HudBay on a private placement basis of 2.45 million units of Cuoro at a purchase price of $1 per unit for total consideration of $2.45-million. Each unit consists of one common share of Cuoro and one-half of one share purchase warrant. Each whole warrant will entitle HudBay to acquire one share at an exercise price of $1.30 per share for a period of two years.
As a result of the investment, HudBay currently owns and has control over 2.45 million shares (approximately 10.8 per cent of the issued and outstanding shares) and 1,225,000 warrants, which, together with the shares, represent approximately 15.4 per cent of the issued and outstanding shares on a partially diluted basis. Pursuant to the subscription agreement, Cuoro has granted to HudBay the right to participate in future equity financings that might be undertaken by Cuoro (for so long as HudBay holds at least 5 per cent of the issued and outstanding shares) on a basis that would permit HudBay to maintain its then current percentage equity ownership of Cuoro.
The acquisition of the units is being made to assist with the exploration of Cuoro's Santa Elena property in the Antioquia district, Colombia.
For further information on CuOro Resources, please visit www.cuororesources.com or contact: