VANCOUVER, June 21, 2017 /PRNewswire/ - GOLDCORP INC.
(TSX: G, NYSE: GG) ("Goldcorp" or the
"Company") today announced that the Company has entered
an agreement (the "Agreement") with Orla Mining Limited (TSXV:
OLA.V) ("Orla"), pursuant to which it has agreed to sell its 100%
interest in the Camino Rojo oxide project, located in Zacatecas, Mexico.
Under the terms of the agreement, Goldcorp will receive:
(1) 19.9% of the issued and outstanding common shares of Orla, (2)
a 2% Net Smelter Return royalty on revenues from all metal
production from the project, with the exception of metals produced
under a joint venture with Orla, (3) an option to acquire up to a
70% interest in future sulphide projects, and (4) the right to
nominate a director to Orla's Board for as long as Goldcorp's
equity ownership position is greater than 10%.
The transaction is subject to customary closing conditions
and is expected to close in the second half of 2017.
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.
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, statements regarding the discovery of additional
oxide or sulphide material on the Camino Rojo project, the
potential outcome of any PFS or FS to be completed on the Camino
Rojo Project, the expected timing of closing of the transactions
described in this release, to 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 concerning the
anticipated completion of the transaction Goldcorp has provided
them in reliance on certain assumptions that they believe are
reasonable at this time, including assumptions as to the ability of
the parties to receive, in a timely manner, the necessary
regulatory approvals; and the ability of the parties to satisfy, in
a timely manner, the other conditions to the closing of the
transaction. 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 risk that the transaction may not close
when planned or at all or on the terms and conditions set forth in
the Agreement; the failure to obtain the necessary regulatory
approvals required in order to proceed with the transaction; 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.