TransactionsGoldcorp Completes Acquisition of 70% Interest in El Morro Project for $513,000,000Published: 06/10/2010 By Mark T. Bennett, Paul M. Stein, France M. Tenaille, Ann Watterworth On February 16, 2010, Goldcorp Inc. acquired from New Gold Inc. a 70% interest in the El Morro project, an advanced stage copper-gold project located in north-central Chile, Atacama Region, approximately 80 kilometres east of the city of Vallenar for an aggregate purchase price of US$513,000,000 pursuant to an Acquisition Funding Agreement between Goldcorp and New Gold Inc. dated January 6, 2010. El Morro is now owned 70% by a Goldcorp subsidiary and 30% by a New Gold subsidiary. Goldcorp is now the operator of El Morro. Cassels Brock acted for Goldcorp with a team that included Paul Stein (Securities and Mining), Mark Bennett (Securities and Mining), Ann Watterworth (Business Law and Mining) and France Tenaille (Business Law and Mining). |