On March 13, 2015, Goldcorp completed its $526 million acquisition of Probe Mines Limited by way of a plan of arrangement. Probe’s principal asset is the 100 per cent-owned Borden Gold project located near Chapleau, Ontario.
Under the arrangement, each common share of Probe, not owned by Goldcorp, was exchanged for 0.1755 common shares of Goldcorp. In addition to the Goldcorp shares, shareholders of Probe received 0.3333 of a common share Probe Metals Inc., a new exploration company containing Probe’s mineral properties in the Ring of Fire in Northern Ontario, as well as $15 million in cash and certain other assets owned by Probe.
Goldcorp’s legal team was led in-house by Charlene Ripley, Executive Vice President and General Counsel. Cassels Brock & Blackwell LLP acted as external counsel to Goldcorp with a team comprising Paul Stein, Jeffrey Roy, Pollyanna Lord, Jennifer Hansen, Jamie Litchen (securities, mining and M&A), Robert Cohen (litigation) and Tom Kapsales (real estate). Thorsteinssons LLP acted as Canadian tax counsel to Goldcorp with a team comprising Michael Colborne and Michael McLaren. Neal, Gerber & Eisenberg LLP represented Goldcorp in the US with a team comprising David Stone, John Koenigsknecht, Jeffrey Shamberg and Beth Rosner. Robert Simon at Greenberg Traurig LLP acted as Goldcorp’s US tax counsel.
Stikeman Elliott LLP represented Probe and Probe Metals Inc., with a team comprising Jay Kellerman, Amanda Linett, Daniel Howard, Daniel Borlack, Jennifer Charles, and Slavica Stojimirovic (M&A), Alexander Rose and Patrick Corney (litigation), John Lorito and Katy Pitch (tax), Dana Porter and Lynda Crago (real estate), Larry Cobb (environmental), Nancy Ramalho (employment), Andrea Boctor (pensions) and Michael Kilby (regulatory). Debevoise & Plimpton LLP, represented Probe and Probe Metals Inc. in the US, with a team comprising Alan Paley, Peter Furci and Deborah Kubiak.