TSX: G NYSE:
GG
(All Amounts in U.S. dollars)
VANCOUVER, April 6, 2015 /CNW/ - GOLDCORP INC.
(TSX: G, NYSE: GG) announced today that it has entered into
a binding letter of intent (the "Letter of Intent") whereby it will
sell its 40% interest in the South Arturo Mine Project (the
"Project") located in Nevada to
Premier Gold Mines Ltd. ("Premier") (TSX: PG). The South
Arturo Mine Project is a joint venture between Goldcorp, a 40%
owner, and Barrick, a 60% owner and the operator of the
Project.
Under the Agreement, Goldcorp will receive consideration of
$20 million in cash at closing and a
further 5% interest in the Rahill-Bonanza Joint Venture in
Red Lake, subject to Barrick not
exercising its right of first refusal in respect of the Project and
completion of definitive documentation. Concurrent with the
divestiture, Goldcorp has agreed to complete a private placement
with Premier in the amount of C$12.5
million, subject to Toronto Stock Exchange approval.
The closing of the acquisition, which is subject to Barrick not
exercising its right of first refusal in respect of the Project and
completion of definitive documentation, is expected to occur by the
end of May 2015.
Goldcorp is one of the world's fastest growing gold
producers. Its low-cost gold production is located in safe
jurisdictions in the Americas and remains 100% unhedged.
Cautionary Note Regarding Forward Looking
Statements
This press release contains "forward-looking statements", within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities legislation,
concerning the anticipated closing of the sale of Goldcorp Inc.'s
interest in the Wharf Mine, including satisfaction of the closing
conditions and the timing of such closing. These
forward-looking statements can be identified by the use of
forward-looking terminology such as the term "expected".
Forward-looking statements are made based upon certain
assumptions and other important factors that, if untrue, could
cause the completion of the transaction and timing of the
anticipated closing to be materially different from the statements
implied in this news release. Such assumptions include the
satisfaction of various closing conditions set out in the agreement
between the parties. Although Goldcorp 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
timing of closing to be materially different from those expressed
or implied by such forward-looking statements, including but not
limited to: risks related to the satisfaction of closing
conditions; risks related to current global financial conditions;
and other risks of the mining industry including factors discussed
in the section entitled "Description of the Business – Risk
Factors" in Goldcorp's annual information form for the year ended
December 31, 2014 available at
www.sedar.com. 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 dispositions, monetizations, mergers, acquisitions, other
business combinations or other transactions 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 our operating
environment. Goldcorp does not undertake to update any
forward-looking statements that are included in this document,
except in accordance with applicable securities laws.
SOURCE Goldcorp Inc.