Major Shareholder Support and Regulatory Approvals
Arizona Sonoran Copper Company Inc. (ASCU), headquartered in Casa Grande, Arizona and Toronto, announced the filing of its management information circular and proxy materials. These documents are crucial for the upcoming special meeting of securityholders aimed at approving the proposed arrangement with Hudbay Minerals Inc. Scheduled for May 11, 2026, this meeting is a significant milestone for the company.
April 2, 2026, marked a pivotal moment when the Supreme Court of British Columbia granted an interim order, authorizing the convening of this meeting. Meanwhile, on March 27, 2026, the Canadian Commissioner of Competition issued an advance ruling certificate. This certificate confirms compliance with the Competition Act, clearing a regulatory hurdle for the arrangement.
Details of the arrangement reveal that Hudbay Minerals will acquire all outstanding common shares of Arizona Sonoran Copper not already owned by them. Shareholders of ASCU will receive 0.242 Hudbay shares for each share they hold. The Toronto Stock Exchange has conditionally approved this arrangement, which includes delisting ASCU’s common shares and listing the new Hudbay shares, pending customary conditions.
Securityholders should submit their proxy votes by May 7, 2026, as the arrangement is anticipated to close in the second quarter of 2026. Endorsed by major shareholders and directors, holding over 30% of the voting shares, the arrangement has garnered substantial support.
Upon finalization, Arizona Sonoran Copper will operate as a wholly-owned subsidiary of Hudbay, with current ASCU shareholders owning about 11% of the merged company. The transaction requires shareholder approval and must satisfy other customary closing conditions, including U.S. and Canadian regulatory endorsements.
Shareholders can access the management information circular and proxy materials on SEDAR+ and the company’s website. These documents offer comprehensive details on the arrangement and instructions for voting procedures.
Last updated: 9 April 2026, 2:49 am
