Goldcorp Welcomes Favorable Newmont Shareholder Vote in Connection with the Plan of Arrangement

by ahnationtalk on April 12, 201918 Views

VANCOUVER, April 11, 2019  – Goldcorp Inc. (NYSE: GG, TSX: G) (“Goldcorp” or the “Company”) today welcomed Newmont Mining Corporation’s (NYSE: NEM) (“Newmont”) favorable shareholder vote in connection with the previously announced plan of arrangement (the “Transaction”) to combine with Goldcorp at a special meeting of shareholders (the “Meeting”) held earlier today.

The issuance of the Newmont shares in connection with the Transaction was approved by greater than 98% of votes cast by Newmont shareholders, either in person or by proxy at the Meeting. In addition, the related resolution to increase Newmont’s authorized common stock was approved by 76% of the shareholders.

Newmont and Goldcorp expect the transaction to close in the second quarter of 2019, subject to approval by Newmont shareholders and the satisfaction of customary closing conditions and regulatory approvals.

Immediately upon the closing of this transaction, the combined entity will be called Newmont Goldcorp, and is expected to:

  • Target 6-7 million ounces of steady-state gold production over a decades-long time horizon; i
  • Begin delivering a combined $365 million in expected annual pre-tax synergies, supply chain efficiencies and Full Potential improvements representing $4.4 billion in Net Present Value (pre-tax); ii
  • Have the largest gold Reserves and Resources in the gold sector, including on a per share basis;
  • Be located in favorable mining jurisdictions and prolific gold districts on four continents;
  • Deliver the highest dividend among senior gold producers; iii
  • Offer financial flexibility and an investment-grade balance sheet to advance the most promising projects at an Internal Rate of Return (IRR) of at least 15 percent; iv
  • Feature a deep bench of accomplished business leaders, technical teams and other talent with extensive mining industry experience; and
  • Maintain industry leadership in environmental, social and governance performance.

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.

For further information please contact:

INVESTOR CONTACT
Shawn Campbell
Director, Investor Relations
Telephone: (800) 567-6223
E-mail: info@goldcorp.com

MEDIA CONTACT
Christine Marks

Director, Corporate Communications

Telephone: (604) 696-3050

E-mail: media@goldcorp.com

NT4

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