MINNETONKA, Minn.--(BUSINESS WIRE)--Pine River Capital Management L.P. (“Pine River”) announces that it acquired 1,000,000 shares ("Shares") of Augusta Resource Corp. ("Augusta") on April 15, 2014, which represents approximately 0.69% of the issued and outstanding Shares of Augusta. Immediately following the acquisition, Pine River held 8,104,500 Shares of Augusta, which represents approximately 5.58% of the issued and outstanding Shares of Augusta.
Pine River has acquired beneficial ownership of 8,104,500 Shares of Augusta since HudBay Minerals Inc. (“HudBay”) announced that it intended to commence an offer to acquire all of the issued and outstanding common shares of Augusta not already owned by HudBay on February 9, 2014.
Pine River acquired the Shares through the Toronto Stock Exchange for investment purposes and in the ordinary course of business because Pine River believed that the Shares, when purchased, represented an attractive investment opportunity and not with the purpose of influencing the control or direction of Augusta.
Pine River may, at any time and from time to time, make additional investments in or dispositions of Augusta or review or reconsider its position, change its purpose, and/or formulate plans or proposals.
This press release is issued by Pine River pursuant to section 102.2 of the Securities Act (Ontario), OSC Rule 62-504 Take-Over Bids and Issuer Bids and Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids. Pine River will file a press release in respect of this acquisition with the applicable Securities Commission or Securities Regulator in each jurisdiction in which Augusta is a reporting issuer.
Pine River Capital Management L.P.
601 Carlson Parkway, Suite 330
Minnetonka, MN 55305