GOLDCORP INC. (TSX:G)(NYSE:GG) is pleased to announce that it has
entered into an agreement with a syndicate of underwriters,
pursuant to which the underwriters have agreed to purchase from
Goldcorp, on a bought deal basis, 8,422,460 Common Shares of
Primero Mining Corp. at a price of C$5.25 per Common Share for
aggregate gross proceeds to Goldcorp of C$44,217,915. The offering
represents the sale of approximately 9% of Goldcorp's interest in
Primero and immediately following the offering, Goldcorp will own
an aggregate of 31,151,200 Common Shares of Primero, representing
approximately 32% of the issued and outstanding shares of Primero.
Primero will not receive any proceeds from the offering.
The offering is being made pursuant to a short form prospectus
filed with the securities regulators in each of the provinces and
territories of Canada, except Quebec.
The offering is scheduled to close on or about October 9, 2012
and is subject to certain conditions including, but not limited to,
the receipt of all necessary approvals.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the common shares in any
jurisdiction. The common shares offered have not yet been
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States
unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is
available.
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
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, 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 integration of acquisitions; risks related to
international operations, including economical 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, 2011 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.
Contacts: Goldcorp Inc. Jeff Wilhoit Vice President, Investor
Relations (604) 696-3074 (604) 696-3001 (FAX)info@goldcorp.com
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