TSX: G
NYSE: GG
(All Amounts in U.S. dollars)
VANCOUVER, Jan. 12, 2015 /CNW/ - GOLDCORP INC.
(TSX: G, NYSE: GG) announced today that a subsidiary of
Goldcorp has entered into a definitive stock purchase agreement
(the "Agreement") whereby it will sell its 100% interest in the
Wharf mine in Lead, South Dakota
to Coeur Mining, Inc. (NYSE: CDE). Under the Agreement,
Goldcorp will receive total consideration of $105 million in cash, subject to certain closing
adjustments.
"This divestiture of Wharf will unlock additional value for
Goldcorp shareholders and demonstrates our commitment to focusing
on the core assets within our portfolio," said Chuck Jeannes, President and Chief Executive
Officer of Goldcorp. "We thank the team at Wharf for their
commitment and dedication and we wish them continued success as
part of Coeur Mining. We will work closely with the team at
site to ensure a smooth transition."
The agreement is subject to United
States antitrust approval and other customary closing
conditions and is expected to close by the end of the first quarter
of 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; integration of acquisitions; risks related to current
global financial conditions; 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,
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, 2013 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.