Goldcorp Announces Completion of
Acquisition of Andean Resources
VANCOUVER, BRITISH
COLUMBIA, December 29, 2010 � GOLDCORP INC . (TSX: G, NYSE: GG) today
announced the scheme of arrangement (�Scheme�) involving Andean Resources
Limited (�Andean�) and its shareholders has been implemented and Goldcorp
has acquired all of the outstanding shares of Andean.
Certificates representing
Goldcorp shares issued as share consideration and cheques for cash
consideration (for those Andean shareholders that elected to receive cash) have
been dispatched to Andean shareholders. The new Goldcorp shares issued as
consideration will commence trading on the TSX and NYSE on December 30,
2010.
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.
Cautionary Note
Regarding Forward-Looking Statements
This press release contains
�forward-looking statements�, within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities
legislation, concerning the business, operations and financial performance and
condition of Goldcorp Inc. Forward-looking statements include, but are not
limited to, statements with respect to the future price of gold, silver,
copper, lead and zinc, the estimation of mineral reserves and resources, the
realization of mineral reserve estimates, the timing and amount of estimated
future production, costs of production, capital expenditures, costs and timing
of the development of new deposits, success of exploration activities,
permitting time lines, hedging practices, currency exchange rate fluctuations,
requirements for additional capital, government regulation of mining
operations, environmental risks, unanticipated reclamation expenses, timing and
possible outcome of pending litigation, title disputes or claims and
limitations on insurance coverage. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such as
�plans�, �expects� �is expected�, �budget�, �scheduled�,
�estimates�, �forecasts�, �intends�, �anticipates�, �believes� or the negative
connotation thereof or variations of such words and phrases or statements that
certain actions, events or results �may�, �could�, �would�, �might� or �will be
taken�, �occur� or �be achieved� or the negative connotation thereof. All
forward-looking statements are developed based on assumptions about such risks,
uncertainties and other factors set at herein. Forward-looking
statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or
achievements of Goldcorp to be materially different from those expressed or
implied by such forward-looking statements, including but not limited to: risks
related to the integration of acquisitions; risks related to international
operations; risks related to joint venture operations; actual results of
current exploration activities; actual results of current reclamation
activities; conclusions of economic evaluations; changes in project parameters
as plans continue to be refined; future prices of gold, silver, copper, lead
and zinc; possible variations in ore reserves, grade or recovery rates; failure
of plant, equipment or processes to operate as anticipated; accidents, labour
disputes; delays in obtaining governmental approvals or financing or in the
completion of development or construction activities and other risks of the
mining industry, as well as those factors discussed in the section entitled
�Description of the Business � Risk Factors� in Goldcorp�s annual information
form for the year ended December 31, 2009 available at www.sedar.com.
Although Goldcorp has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
The forward-looking statements contained in this press release are made
as of the date of this press release and, accordingly, are subject to change
after such date. Except as otherwise indicated by Goldcorp, these
statements do not reflect the potential impact of any non-recurring or other
special items or of any dispositions, monetizations, mergers, acquisitions,
other business combinations or other transactions that may be announced or that
may occur after the date hereof. Forward-looking statements are provided
for the purpose of providing information about management�s current
expectations and plans and allowing investors and others to get a better
understanding of Goldcorp's operating environment. Goldcorp does not
undertake to update any forward-looking statements that are included in this
document, except in accordance with applicable securities laws.
For further
information, please contact:
Jeff
Wilhoit
Vice President, Investor Relations
Goldcorp Inc.
Telephone: (604) 696-3074
Fax: (604) 696-3001
E-mail: info@goldcorp.com
website: www.goldcorp.com
website: www.goldcorp.com