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(All Amounts in Canadian dollars unless stated otherwise)
June 16, 2014 /PRNewswire/ -
GOLDCORP INC. (TSX: G, NYSE: GG) would like to remind holders of shares of Gold Eagle Mines Ltd. ("Gold Eagle"), that the sunset clause on exchanging these shares for common shares of Goldcorp Inc. and cash expires on
September 25, 2014 ("Deadline"). On
September 25, 2008 ("Effective Date"), Goldcorp completed the acquisition of all the outstanding shares of Gold Eagle under a Plan of Arrangement.
Under the Plan of Arrangement each holder of a Gold Eagle share was entitled to receive either
$13.60 or 0.292 of a Goldcorp common share plus
$0.0001 in cash. Shareholders who failed to make an election by
3:00 pm (
Toronto time) on
Thursday, September 11, 2008 were deemed to have elected the default of cash for 50% of their Gold Eagle shares and Goldcorp shares for 50% of their Gold Eagle shares, subject to pro-ration. The pro-ration was a factor of 0.527069. The result for the 50/50 default was cash of 0.263535 of
$13.60 per Gold Eagle share plus 0.736465 of 0.292 of a Goldcorp common share per Gold Eagle share plus nominal consideration of
$0.0001 in cash.
Under the Plan of Arrangement a six year sunset clause provision provides that any certificate which immediately before the effective date of the Plan of Arrangement represented outstanding Gold Eagle shares and which has not been surrendered on or before the Deadline, will cease to represent any claim against or interest of any kind or nature in Gold Eagle or Goldcorp and any persons who tender certificates for Gold Eagle shares after the sixth anniversary of the Effective Date will not receive Goldcorp shares, will not own any interest in Gold Eagle, and will not be paid any cash or other compensation.