BRIEF-Kaminak says acquisition transaction with Goldcorp

Kaminak Gold Corporation

Kaminak Gold Corporation is advancing the 100% owned Coffee Gold Project, a multi-million ounce, high-grade oxide gold district that is amendable to heap leaching and located in the Yukon Territory, Canada.

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BRIEF-Kaminak says acquisition transaction with Goldcorp

posted on May 12, 2016 09:49AM

2016-05-12 08:43:00 AM ET (Reuters)

May 12 (Reuters) - Kaminak Gold Corp

* Total consideration offered for Kaminak shares is approximately C$520 million.

* Deal for C$520 million

* Under arrangement, each common share of Kaminak will be exchanged for 0.10896 common shares of Goldcorp

* Exchange ratio represents a value of c$2.62 per share based upon closing price of Goldcorp on TSX on may 11, 2016 of c$24.08

* Arrangement has been unanimously approved by boards of directors of Kaminak and Goldcorp

* Kaminak announces acquisition transaction with Goldcorp

* Board may terminate agreement in favour of unsolicited superior proposal, subject to payment of termination fee of C$20.3 million

* Number of Goldcorp shares to be issued under arrangement will be approximately 21.6 million

* Kaminak's financial advisor is BMO Capital Markets and its legal advisors are Blake, Cassels & Graydon LLP

* Kaminak announces acquisition transaction with Goldcorp Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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