June 12, 2006
Goldcorp Inc. (TSX:G) completed a transaction whereby it received more than US$450 million in connection with the early exercise of warrants. The proceeds were used to repay credit facilities drawn down to fund Goldcorp’s previously completed acquisition of certain assets of Placer Dome Inc. from Barrick Gold Corporation. The transaction required shareholder approval and the approval of Goldcorp’s five outstanding series of warrants. In order to incent the early exercise of the Goldcorp warrants, holders of warrants were offered a fraction of a new out-of-the-money warrant upon the exercise of each warrant. The distribution of the new warrants was qualified by a short form base shelf prospectus in each of the provinces and territories of Canada and a registration statement filed in the United States. BMO Nesbitt Burns Inc. and GMP Securities L.P. acted as financial advisors to Goldcorp with respect to the transaction.
Wildeboer Dellelce LLP represented the financial advisors with a team that included Derek Sigel, James Brown, Sanjeev Patel (corporate/securities) and Kevin Fritz (tax).