TSX: G NYSE: GG
VANCOUVER, June 15, 2015 /PRNewswire/ - GOLDCORP INC.
(TSX: G, NYSE: GG) and Tahoe Resources Inc. ("Tahoe") (TSX:
THO, NYSE: TAHO, BVL: THO) today announced that they have entered
into an agreement with GMP Securities L.P. and BMO Capital Markets
acting as joint bookrunners on behalf of a syndicate of
underwriters (collectively, the "Underwriters") for a secondary
offering by Goldcorp, on a bought deal basis, of 58,051,692 common
shares of Tahoe (the "Common Shares") at a price of C$17.20 per Common Share for gross proceeds of
C$998,489,102 (the "Offering"). The
Offering represents the sale of all of Goldcorp's interest in
Tahoe. Tahoe will not receive any of the proceeds from the
Offering.
"Divesting non-core assets has been instrumental to Goldcorp's
growth and consistently sound financial position, and the sale of
the Tahoe position supports that strategy," said Chuck Jeannes, Goldcorp President and CEO. "With
our gold production to date tracking well toward 2015 guidance,
Goldcorp is positioned for growing free cash flow and financial
flexibility."
The Common Shares to be sold under the Offering will be offered
by way of a short form prospectus in all of the provinces and
territories of Canada and will be
offered in the United States
pursuant to a prospectus filed as part of a registration statement
filed under the Canada/U.S.
multi-jurisdictional disclosure system. A registration statement
relating to these securities has been filed with the United States
Securities and Exchange Commission but has not yet become
effective. The securities may not be sold nor may offers to buy be
accepted in the United States
prior to the time the registration statement becomes effective.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
Common Shares in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of that jurisdiction.
The Offering is scheduled to close on or about June 30, 2015 and is subject to certain customary
closing conditions including, but not limited to, the receipt of
all necessary approvals.
A written prospectus relating to the Offering may be obtained
upon request by contacting GMP Securities L.P., Equity Capital
Markets by telephone at 416-943-6105 or by email at
ecm@gmpsecurities.com or BMO Capital Markets c/o The Data Group of
Companies, by telephone at 905-696-8884 x4338 or by email at
kennedywarehouse@datagroup.ca.
About Goldcorp
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 business, operations and financial performance and
condition of Goldcorp Inc. ("Goldcorp"). Forward-looking statements
include, but are not limited to, statements with respect to the
Offering, including the terms, potential completion and expected
closing date of the Offering, future price of gold, silver, copper,
lead and zinc, the estimation of mineral reserves and resources,
the realization of mineral reserve estimates, the timing and amount
of estimated future production, costs of production, capital
expenditures, 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 of such words
and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof.
Forward-looking statements are made based upon certain
assumptions and other important factors 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.
Certain important factors that could cause actual results,
performances or achievements to differ materially from those in the
forward-looking statements include, among others, satisfaction by
third parties of the conditions precedent to the completion of the
Offering, gold price volatility, discrepancies between actual and
estimated production, mineral reserves and resources and
metallurgical recoveries, mining operational and development risks,
litigation risks, regulatory restrictions (including environmental
regulatory restrictions and liability), activities by governmental
authorities (including changes in taxation), 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 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:
risks related to the completion of the Offering; 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;
environmental risks; future prices of gold, silver, copper, lead
and zinc; possible variations in ore reserves, grade or recovery
rates; mine development and operating risks; accidents, labour
disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities; 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 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.