Hudbay Warrants definition
Examples of Hudbay Warrants in a sentence
A determination of whether the exchange qualifies as a reorganization will depend in part on the number of Augusta Shares tendered in the Offer, the details of any Compulsory Acquisition or Subsequent Acquisition Transaction and the manner in which the Hudbay Warrants are treated for purposes of the U.S. federal income tax reorganization rules.
If the exchange qualifies as a reorganization, the U.S. federal income tax treatment of a U.S. Holder that realizes gain will depend on the characterization of the Hudbay Warrants for U.S. federal income tax purpose.If the exchange is not considered part of a reorganization for U.S. federal income tax purposes, the receipt of Hudbay Shares and Hudbay Warrants in exchange for Augusta Shares pursuant to the Offer will be fully taxable for U.S. federal income tax purposes.
If Block B is not completed, any Hudbay Shares and Hudbay Warrants will be mailed to the depositing Augusta Shareholder at the address of such holder as it appears in Block A or, if no address is provided in Block A, then it will be sent to the address of such Augusta Shareholder as shown on the register of Augusta Shareholders maintained by or on behalf of Augusta.
If at the completion of the Amalgamation and the Redemption, the number of Hudbay Shares or Hudbay Warrants to be issued or delivered to a Shareholder would result in a fraction of a Hudbay Share or Hudbay Warrant being issuable or deliverable, fractional entitlements will either be rounded up (if the fractional interest is 0.5 or more) or down (if the fractional interest is less than 0.5) to the nearest whole number.
The Hudbay Warrants may be exercised in accordance with the terms of the Warrant Indenture only on the Warrant Expiry Date.The Exercise Price does not necessarily bear any relationship to established criteria for valuation of the Hudbay Shares, such as book value per Hudbay Share, cash flows, or earnings, and the Exercise Price should not be considered as an indication of the current or future market price of Hudbay Shares.
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Hudbay can issue an unlimited number of Hudbay Warrants, and there are 20,743,049 Hudbay Warrants issued and outstanding.
The Hudbay Shares and the Hudbay Warrants to be delivered pursuant to the Contemplated Transactions (and any Hudbay Shares to be issued upon exercise of the Warrants) will be duly allotted for issuance and will be validly issued and outstanding as fully paid and non-assessable securities and will not have been issued in violation of any pre-emptive rights.
Without limiting the generality of the foregoing, no approval of the shareholders of the Offeror is required for the Offeror to issue the Hudbay Shares and the Hudbay Warrants as consideration pursuant to the Offer.
Any Hudbay Shares and Hudbay Warrants mailed in accordance with the Offer and this Letter of Transmittal will be deemed to be delivered and payment will be deemed to be made by the Offeror at the time of mailing.