VANCOUVER, Aug. 2, 2017 /CNW/ - GOLDCORP INC. (TSX: G,
NYSE: GG) ("Goldcorp" or the "Company") today
announced the closing of the previously announced acquisition of
all of the issued and outstanding common shares (the "Exeter
Shares") of Exeter Resource Corporation ("Exeter") not already owned by Goldcorp by
way of a court-approved plan of arrangement (the
"Arrangement").
Pursuant to the Arrangement, Goldcorp acquired all of the issued
and outstanding Exeter Shares not already owned by Goldcorp for
consideration of 0.12 of a common share of Goldcorp (each whole
common share, a "Goldcorp Share") for each outstanding
Exeter Share. Goldcorp now owns 100% of the outstanding Exeter
Shares. In connection with the Arrangement, Goldcorp will issue an
aggregate of up to 1,896,145 Goldcorp Shares to former Exeter shareholders, who now hold
approximately 0.22% of the 865,034,962 Goldcorp Shares issued and
outstanding, on an undiluted basis.
The Exeter Shares are expected to be delisted from the Toronto
Stock Exchange on or about August 8,
2017 and will promptly be delisted from the NYSE-MKT and the
Börse Frankfurt (Frankfurt Stock
Exchange) following closing. In addition, Exeter has made an application to the British
Columbia Securities Commission, as principal regulator, and to the
securities regulatory authorities in each of the other provinces in
Canada in which it is a reporting
issuer (or equivalent) for an order that Exeter cease to be a reporting issuer (or
equivalent) under applicable securities laws.
Full details of the Arrangement and certain other matters are
set out in the management information circular of Exeter dated June 27,
2017 (the "Information Circular"). A copy of the
Information Circular and the early warning report filed by Goldcorp
in connection with the purchase of the Exeter shares can be found under Exeter's profile on SEDAR at
www.sedar.com or by contacting Goldcorp at the number shown
below. The purpose of the Arrangement was to acquire all of the
issued and outstanding Exeter
shares not already owned by Goldcorp.
Exeter shareholders who have
questions or who may need assistance with the completion of letters
of transmittal are advised to contact AST Trust Company
(Canada), the depository for the
Arrangement, at: North American Toll Free: 1-800-387-0825 Email:
inquiries@canstockta.com.
About Goldcorp
Goldcorp is a senior gold producer focused on responsible mining
practices with safe, low-cost production from a high-quality
portfolio of mines. For further information about Goldcorp, please
visit their website at www.goldcorp.com.
Cautionary Note Regarding Forward Looking
Statements
This press release contains "forward-looking
statements" within the meaning of Section 27A of the United States
Securities Act of 1933, as amended, Section 21E of the United
States Exchange Act of 1934, as amended, the United States
Private Securities Litigation Reform Act of 1995, or in releases
made by the United States Securities and Exchange Commission, all
as may be amended from time to time, and "forward-looking
information" under the provisions of applicable Canadian securities
legislation, concerning the business, operations and financial
performance and condition of Goldcorp. Forward-looking statements
include, but are not limited to, the anticipated timing and
delisting of the Exeter Shares, the future price of gold, silver,
copper, lead and zinc, the estimation of Mineral Reserves (as
defined below) and Mineral Resources (as defined below), the
realization of Mineral Reserve estimates, the timing and amount of
estimated future production, costs of production, targeted cost
reductions, capital expenditures, free cash flow, costs and timing
of the development of new deposits, success of exploration
activities, permitting time lines, hedging practices, currency
exchange rate fluctuations, requirements for additional capital,
government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, timing and possible outcome of
pending litigation, title disputes or claims and limitations on
insurance coverage. Generally, these forward-looking statements can
be identified by the use of forward-looking terminology such as
"plans", "expects" , "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" , "believes", or
variations or comparable language of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "should", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof.
Forward-looking statements are necessarily based upon a number
of factors and assumptions that, if untrue, could cause the actual
results, performances or achievements of Goldcorp to be materially
different from future results, performances or achievements
expressed or implied by such statements. Such statements and
information are based on numerous assumptions regarding present and
future business strategies and the environment in which Goldcorp
will operate in the future, including the price of gold,
anticipated costs and ability to achieve goals. In respect of the
forward-looking statements, Goldcorp has provided them in reliance
on certain assumptions that they believe are reasonable at this
time. Certain important factors that could cause actual results,
performances or achievements to differ materially from those in the
forward-looking statements include, among others, gold price
volatility, discrepancies between actual and estimated production,
Mineral Reserves and Mineral Resources and metallurgical
recoveries, mining operational and development risks, litigation
risks, regulatory restrictions (including environmental regulatory
restrictions and liability), changes in national and local
government legislation, taxation, controls or regulations and/or
change in the administration of laws, policies and practices,
expropriation or nationalization of property and political or
economic developments in Canada,
the United States and other
jurisdictions in which the Company does or may carry on business in
the future, delays, suspension and technical challenges associated
with capital projects, higher prices for fuel, steel, power, labour
and other consumables, currency fluctuations, the speculative
nature of gold exploration, the global economic climate, dilution,
share price volatility, competition, loss of key employees,
additional funding requirements and defective title to mineral
claims or property. Although Goldcorp believes its expectations are
based upon reasonable assumptions and has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other important factors that may cause the
actual results, level of activity, performance or achievements of
Goldcorp to be materially different from those expressed or implied
by such forward-looking statements, including but not limited to:
the benefits expected from the Arrangement not being realized;
risks related to the integration of acquisitions; risks related to
international operations, including economic and political
instability in foreign jurisdictions in which Goldcorp operates;
risks related to current global financial conditions; risks related
to joint venture operations; actual results of current exploration
activities; actual results of current reclamation activities;
environmental risks; conclusions of economic evaluations; changes
in project parameters as plans continue to be refined; future
prices of gold, silver, copper, lead and zinc; possible variations
in ore reserves, grade or recovery rates; failure of plant,
equipment or processes to operate as anticipated; mine development
and operating risks; accidents, labour disputes and other risks of
the mining industry; risks associated with restructuring and
cost-efficiency initiatives; delays in obtaining governmental
approvals or financing or in the completion of development or
construction activities; risks related to the integration of
acquisitions; risks related to indebtedness and the service of such
indebtedness, as well as those factors discussed in the section
entitled "Description of the Business – Risk Factors" in Goldcorp's
most recent annual information form available on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov. Although Goldcorp
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Forward-looking
statements are made as of the date hereof and, accordingly, are
subject to change after such date. Except as otherwise indicated by
Goldcorp, these statements do not reflect the potential impact of
any non-recurring or other special items or of any disposition,
monetization, merger, acquisition, other business combination or
other transaction that may be announced or that may occur after the
date hereof. Forward-looking statements are provided for the
purpose of providing information about management's current
expectations and plans and allowing investors and others to get a
better understanding of Goldcorp's operating environment. Goldcorp
does not intend or undertake to publicly update any forward-looking
statements that are included in this document, whether as a result
of new information, future events or otherwise, except in
accordance with applicable securities laws.
SOURCE Goldcorp Inc.