SUBSCRIPTION FOR UNITSSubscription Agreement • August 27th, 2010 • HudBay Minerals Inc. • Metal mining • Ontario
The undersigned (the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase from the Corporation (the “Placement”) 10,905,590 units (the “Units”) of the Corporation for aggregate consideration of $29,990,372 (the “Subscription Price”), representing a subscription price of $2.75 per Unit, on the terms and conditions set out in this subscription agreement (the “Subscription Agreement”). Each Unit is comprised of one common share of the Corporation (a “Share”) and one half of one common share purchase warrant (a “Warrant”). Subject to the terms of the Warrants, each whole Warrant will entitle the Subscriber, on exercise, to purchase one additional common share (a “Warrant Share”) at a price of $3.90 for an 18-month period following the closing of the Placement. The terms of the Warrants will be as set out in the form of Warrant certificate attached hereto as Schedule B.
