Goldcorp completes sale of Los Filos Mine to Leagold

http://www.goldcorp.com/English/Investor-Resources/News/News-Details/2017/Goldcorp-completes-sale-of-Los-Filos-Mine-to-Leagold/default.aspx

VANCOUVER, April 7, 2017 /CNW/ – GOLDCORP INC. (TSX: G, NYSE: GG) (“the Company”) today announced it has completed the sale of its Los Filos Mine in Mexico to Leagold Mining Corporation (TSXV: LMC-H) (“Leagold”).  Pursuant to the terms of the transaction, Goldcorp received an aggregate of 34,635,091 common shares of Leagold, representing 25.3% of Leagold’s issued and outstanding common shares, $250 million in cash and a $29 million short-term promissory note that is due on the earlier of (i) 120 days from closing and (ii) the receipt by Leagold of approval from the Mexican competition commission (“COFECE”) on a subsequent tranche of its equity financing.   Following the completion of the second tranche of its equity financing, the Company’s ownership on an as-issued basis will be 22.9% of Leagold’s issued and outstanding common shares.  Goldcorp also retained certain tax receivables worth approximately $100 million.

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