TransactionsGoldcorp Completes Sale of San Dimas Mine for US$510 MillionPublished: 08/25/2010 By Jason Arbuck, Jamie Firsten, Jason R. Sernoskie, Paul M. Stein, France M. Tenaille, Jennifer Traub, Ann Watterworth On August 6, 2010, Goldcorp Inc. sold the San Dimas gold-silver mine in Mexico to Primero Mining Corp. (formerly Mala Noche Resources Corp.) for US$510 million plus the assumption of all liabilities associated with the San Dimas mine. Goldcorp received an aggregate of 31,151,200 common shares of Primero representing approximately 36% of Primero’s issued and outstanding common shares, $216 million in cash, a US$60 million convertible note and a US$50 million 5-year promissory note. Cassels Brock acted for Goldcorp with a team that included Paul Stein (Securities and Mining), Jennifer Traub (Securities and Mining), Ann Watterworth (Business Law and Mining), France Tenaille (Business Law and Mining), Jamie Firsten (Business Law), Jason Sernoskie (Business Law), Jason Arbuck (Financial Services) and Bonnie Tse (Financial Services). Please refer to the News Release for more information about the deal. |