Goldcorp Updates Shareholding in Delta Gold Corporation
Goldcorp Updates Shareholding in Delta Gold Corporation
PR Newswire
VANCOUVER, Feb. 16, 2013
TSX: G NYSE: GG
(All Amounts in $US unless stated otherwise)
VANCOUVER, Feb. 16, 2013 /PRNewswire/ - GOLDCORP INC. (TSX: G), (NYSE: GG)
reports that through its wholly-owned subsidiary, Goldcorp USA Inc., it has
received 22,059,000 common shares (the "Shares") in the capital of Delta Gold
Corporation (formerly ADR Capital Corp.) ("Delta") pursuant to a reverse
takeover transaction involving Delta Gold Inc. that was completed on February
13, 2013 (the "Transaction") as described in the Filing Statement of Delta
dated December 28, 2012 and filed on www.sedar.com. The Shares received by
Goldcorp pursuant to the Transaction represent approximately 11.5% of the
191,171,258 issued and outstanding common shares of Delta, and have an
estimated value of $2.5 million. Pursuant to the Transaction, each Delta Gold
Inc. common share was exchanged for 4.4118 common shares of Delta.
Goldcorp previously received 5,000,000 common shares of Delta Gold Inc. as a
first payment for the granting of an option to Delta Gold Inc. to purchase the
100% Goldcorp-owned Imperial project, located in California, USA in June of
2012.
Subject to compliance with applicable securities laws in respect of the resale
of the Shares, Goldcorp may purchase, sell or acquire securities of Delta in
the future on the open market or in private transactions, depending on market
conditions and other factors material to its investment decisions.
This press release is issued pursuant to National Instrument 62-103 - The
Early Warning System and Related Take-Over Bid and Insider Reporting Issues,
which also requires a report to be filed with regulatory authorities in each
of the jurisdictions containing additional information with respect to the
foregoing matters (the "Early Warning Report"). For further information and
to obtain a copy of the Early Warning Report filed in connection with the
Transaction, please see Delta's profile on the SEDAR website at www.sedar.com
or contact:
Anna M. Tudela
Vice President, Regulatory Affairs and Corporate Secretary
Goldcorp Inc.
Suite 3400-666 Burrard Street
Vancouver, B.C. Canada V6C 2X8
Telephone: (604) 696-3000
Goldcorp is one of the world's fastest growing senior 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 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 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, 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.
SOURCE Goldcorp Inc.
Contact:
Jeff Wilhoit
Vice President, Investor Relations
Goldcorp Inc.
Telephone: (604) 696-3074
Fax: (604) 696-3001
E-mail: info@goldcorp.com
website: www.goldcorp.com
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