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Goldcorp Inc. Commences $247 Million Take-Over Bid for Exeter Resource Corporation

Published: 04/20/2017

Team: Paul M. Stein, Jeffrey P. Roy, Jen Hansen, Stefanie Sebanc

Further to Goldcorp Inc.'s press release dated March 28, 2017, on April 20, 2017, Goldcorp formally commenced an offer to acquire all of the issued and outstanding shares of Exeter Resource Corporation. Exeter shareholders will be entitled to receive 0.12 of a common share of Goldcorp for each Exeter common share held, which represents a premium of 67% based on Goldcorp's and Exeter's closing prices on the Toronto Stock Exchange on March 27, 2017. The total consideration being offered for all of the issued and outstanding shares of Exeter is approximately $247 million (on a fully diluted basis). The offer is open for acceptance until 5:00 p.m. (Toronto time) on May 26, 2017, unless extended or withdrawn, and is subject to certain customary conditions.

The board of directors of Exeter, on the unanimous recommendation of its Special Committee, has unanimously approved Goldcorp's acquisition of Exeter pursuant to the offer and has unanimously recommended that Exeter shareholders tender their shares to the offer.

Goldcorp is represented internally by Randall Chatwin, Vice President, Assistant General Counsel. Cassels Brock is acting as external counsel for Goldcorp with a deal team that included Paul Stein, Jeff Roy, Jen Hansen and Stefanie Sebanc (Securities, Mining and Mergers & Acquisitions).