Goldcorp Raises More Than US$450M on Early Exercise of Warrants

On June 9, 2006, Goldcorp Inc., the world's lowest-cost, multi-million ounce gold producer with operations throughout the Americas and Australia, completed a transaction whereby it offered holders of its five series of listed common share purchase warrants an incentive to exercise early and receive new common share purchase warrants in addition to the underlying common shares they would otherwise receive on exercise.
Goldcorp raised more than US$450 million, which has been used to repay credit facilities drawn down to fund the previously completed acquisition of certain assets of Placer Dome Inc. from Barrick Gold Corporation. BMO Nesbitt Burns Inc. and GMP Securities L.P. acted as financial advisors to Goldcorp.
Cassels Brock & Blackwell LLP, with a team that included Mark Bennett and Jennifer Traub (mining and securities), represented Goldcorp. Wildeboer Dellelce LLP acted for the financial advisors with a team that included Derek Sigel, James Brown and Sanjeev Patel.