(All Amounts in $US)
VANCOUVER, May 31, 2017 /CNW/ - GOLDCORP INC. (TSX: G,
NYSE: GG) ("the Company") today announced it has completed the
sale of its 100% interest in the Cerro Blanco gold-silver project,
located in Guatemala, to Bluestone
Resources Inc. (TSXV: BSR) ("Bluestone").
Pursuant to the terms of the transaction, Goldcorp received
approximately $18 million in cash, a
1% Net Smelter Return royalty on production, the right to receive
3,099,160 common shares of Bluestone, representing 4.9% of
Bluestone's issued and outstanding common shares and 258,805 common
share purchase warrants. Goldcorp will receive an additional
$15 million in cash within six months
of commencement of "Commercial Production" at Cerro Blanco.
As part of the transaction Goldcorp has granted Bluestone a
right of first refusal with respect to the purchase of certain
assets and equipment at the Marlin mine, also located in
Guatemala, and received a
$2 million non-refundable deposit
from Bluestone to be applied against future purchases.
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, 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 and the timing and amount of estimated future
production. 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. 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, 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, political or economic developments in
Mexico, and higher prices for
fuel, steel, power, labour and other consumables. 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:
risks related to Goldcorp's equity interest in Bluestone, risks
related to international operations, including economic and
political instability in foreign jurisdictions in which Goldcorp
operates; risks related to current global financial conditions;
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; delays in obtaining
governmental approvals or financing; 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.