GOLDCORP INC. today agreed to support the proposed transaction by which Northgate Minerals Corporation will acquire all of the issued and outstanding shares of Primero Mining Corp. The transaction will be effected through a plan of arrangement under the British Columbia Business Corporations Act.
Goldcorp controls 35.5% of the outstanding shares of Primero, and has agreed to vote its shares in support of the arrangement. Upon completion of the arrangement, Goldcorp will receive 46.7 million Northgate shares representing approximately 11% of Northgate’s outstanding shares.
Goldcorp is one of the world’s fastest growing senior gold producers. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.