Day: January 12, 2017

La segunda mayor productora de oro de Canadá recibirá 71 millones de dólares en acciones comunes de Leagold

GOLDCORP INC. today announced that the Company has entered into a share purchase agreement with Leagold Mining Corporation, pursuant to which it has agreed to sell its Los Filos Mine in Mexico to Leagold. Under the terms of the Agreement, Goldcorp will receive estimated consideration of $438 million, consisting of $279 million in cash, $71 million in Leagold common shares, and retain certain tax receivables of approximately $88 million. The common shares issued to Goldcorp as consideration are expected to represent approximately 30% of the issued and outstanding shares of Leagold following the closing of the Transaction. By closing of the Transaction, Goldcorp expects to recognize a reversal of a 2015 impairment in mining interests at Los Filos of approximately $30 to $60 million on a pre-tax basis.

Leagold Mining Corporation is pleased to announce that it has entered into a binding sale and purchase agreement with Goldcorp Inc. dated January 11, 2017 to acquire the Los Filos Gold Mine in Guerrero State, Mexico for US$350 million through the purchase of Goldcorp’s Desarrollos Mineros San Luis S.A. de C.V. subsidiary. The purchase price is made up of US$279 million in cash and US$71 million in common shares of Leagold. Based on Leagold’s transaction financing plan, Goldcorp is expected to become an approximate 30% shareholder of Leagold at completion of the Acquisition. Goldcorp will have the right to nominate a director to Leagold’s Board at completion of the Acquisition.