Arrangement Details and Shareholder Guidance
Institutional Shareholder Services (ISS), a leading independent proxy advisory firm, has issued a recommendation for Arizona Sonoran Copper Company shareholders to vote in favour of the proposed arrangement with Hudbay Minerals. This pivotal decision will be made at the special meeting scheduled for May 11, 2026.
Under the terms of the arrangement, shareholders of Arizona Sonoran Copper (ASCU) will receive 0.242 Hudbay common shares for each ASCU share they own. The ASCU board of directors has unanimously endorsed this proposal, highlighting the anticipated advantages such as enhanced financial stability and increased liquidity that the merger is expected to bring.
ISS stated, “The proposed merger is strategically sound,” noting that the new entity is anticipated to benefit from strengthened financial performance and greater liquidity. This endorsement aligns with the ASCU board’s recommendation for shareholders to approve the merger.
Shareholder Voting Information
Eligible shareholders are required to submit their votes by 1:00 p.m. Toronto time on May 7, 2026, ahead of the special meeting. This meeting will be conducted virtually through a live audio webcast, and only securityholders of record as of March 25, 2026, will be eligible to participate.
For assistance with voting, shareholders can contact ASCU’s proxy solicitation agent, Shorecrest Group Ltd., either by phone or email. Comprehensive information, including the management circular and related materials, is available on SEDAR+ and the ASCU website.
Arizona Sonoran Copper is primarily focused on copper exploration and development, notably through its Cactus Project, which aims to bolster the U.S. domestic copper supply. The company boasts a leadership team with significant expertise in project delivery and capital markets.
May 11, 2026, represents a crucial date as shareholders will determine the future path of the merger between Arizona Sonoran Copper and Hudbay Minerals. With support from both ISS and the board, the merger has the potential to redefine the financial landscape of the company.
For any questions or further information regarding voting, shareholders are encouraged to seek advice from financial, legal, or professional advisors. Shorecrest Group Ltd. is available for contact at 1-888-637-5789 (North American toll-free) or 647-931-7454 (outside North America).
The proxy voting deadline is set for 1:00 p.m. (Toronto time) on May 7, 2026, which is 48 hours (excluding weekends and holidays) before any adjournment or postponement of the meeting. The virtual meeting will be accessible at https://virtual-meetings.tsxtrust.com/1920.
ASCU has filed the management information circular and related meeting materials on SEDAR+ and these are available under its profile at www.sedarplus.ca and the company’s website at www.arizonasonoran.com.
Last updated: 5 May 2026, 1:19 am
