Augusta Closes $30 Million Private Placement with HudBay Minerals

Augusta Resource Corporation (TSX:AZC, NYSE Amex:AZC) has closed the approximately $30 million private placement with HudBay Minerals Inc. (TSX: HBM) announced on August 23, 2010.

The press release is quoted as saying:

The transaction comprised 10,905,590 units at $2.75 per unit. Each unit consists of one common share of Augusta and one half of one common share purchase warrant. Each full warrant is exercisable for one common share of Augusta at $3.90 per share for a period of 18 months expiring on February 27, 2012. The warrants may be subject to accelerated expiry in certain circumstances.

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