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Hudbay Minerals Files Early Warning Report Regarding Panoro Minerals Stake

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Hudbay Minerals (HBM.TO) has filed an early warning report pertaining to its holdings in Panoro Minerals due to an increase in Panoro's issued and outstanding common shares, the company said Friday.

Hudbay has not sold or disposed of any Panoro shares and currently holds 30.8 million shares. Due to the increase, Hudbay's ownership in Panoro has decreased from 10.01% as of May 27 to about 9.97% as of Aug. 24. As a result, Hudbay is no longer a "reporting insider" of Panoro.

Hudbay retains certain contractual preemptive rights allowing it to exercise an anti-dilution right, which will remain available to the company as long as it holds at least 5% of Panoro shares.

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