Vancouver, BC, December 17, 2018 - Mason Resources Corp. (TSX: MNR; OTCQB: MSSNF – “Mason” or the “Company”) announces the voting results from today’s special meeting (the “Meeting”) of the holders (the “Shareholders”) of common shares of the Company (the “Common Shares”). At the Meeting, the Shareholders were asked to consider and, if deemed advisable, pass a special resolution (the “Arrangement Resolution”) approving a plan of arrangement with Hudbay Minerals Inc. (“Hudbay”) under Part 9, Division 5 of the Business Corporations Act (British Columbia) (the “Arrangement”) whereby Hudbay will acquire all of the issued and outstanding Common Shares it does not already own for C$0.40 per Common Share.
To be effective, the Arrangement Resolution required the approval of at least: (i) two-thirds (66?%) of the votes cast by Shareholders present in person or represented by proxy at the Meeting; and (ii) a simple majority of the votes cast by Shareholders excluding the votes cast by Hudbay, its affiliates and any other Shareholders who were required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), present in person or represented by proxy at the Meeting.
At the Meeting, the Shareholders approved the Arrangement Resolution with approximately 97.43% of the votes cast at the Meeting being for the Arrangement Resolution (96.58% after excluding votes cast by Hudbay, its affiliates and any other Shareholders who were required to be excluded pursuant to MI 61-101).
Mason will seek a final order from the Supreme Court of British Columbia with respect to the Arrangement on December 18, 2018 and expects closing of the Arrangement to occur on December 19, 2018.
About Mason Resources Corp.
Mason’s key asset is its 100% owned Ann Mason project – an extensive, prospective land package located in the Yerington District of Nevada. The Ann Mason project hosts two copper-molybdenum porphyry deposits, Ann Mason and Blue Hill, as well as numerous earlier-stage or untested priority targets. The Ann Mason deposit is currently at a PEA level and is among the largest undeveloped copper porphyry resources in Canada/U.S.A. The excellent infrastructure, year-round access, strong community support and clear permitting process are all factors that contribute to making Yerington, Nevada one of the best mining jurisdictions in the world. Mason also holds a 100% interest in the Lordsburg property, an exciting earlier-stage copper-gold porphyry project, located within an historic mining district in New Mexico.