Toronto Stock
Exchange: G
New York Stock Exchange: GG
Goldcorp Matches
Competing Proposal To Acquire Canplats Resources
VANCOUVER, British
Columbia � December 29, 2009 - Goldcorp Inc. (TSX: G, NYSE: GG) today announced that it has
delivered to Canplats Resources Corporation (�Canplats�) (TSX-V: CPQ) an
amendment to Goldcorp�s proposal to acquire all of the issued and outstanding
shares (the �Shares�) of Canplats (the �Goldcorp Proposal�) that matches the proposal
made on December 24, 2009 by Minera Penmont S. de R.L. de C.V. (�Penmont�). Under
the terms of the Goldcorp Proposal, Goldcorp will pay consideration of C$4.80
per Share comprised of C$4.60 cash per share plus shares of a newly-formed
company which will hold Canplats� exploration properties (�Newco�) with a
notional value of C$0.20 per Share. Under the matched terms of the
Goldcorp Proposal, the termination fee payable to Goldcorp will be increased to
$10.2 million, consistent with the proposed terms of the Penmont
proposal. Goldcorp believes that these amendments to the transaction make
the Penmont Proposal not a �Superior Proposal� within the meaning of the
Business Combination Agreement dated November 16, 2009 between Canplats and
Goldcorp (the �BCA�).
Since Goldcorp has matched
the Penmont Proposal, Canplats must enter into an agreement with Goldcorp to
reflect the amended terms of the transaction and must recommend that the
Canplats Securityholders approve the business combination with Goldcorp. Under
the terms of the Penmont Proposal, the Penmont Proposal is of no further effect
because Goldcorp has exercised its right to match. No termination, break or
other fee is payable by Canplats to Penmont in respect of Goldcorp�s exercise
of its right to match.
Canplats shareholders and
other interested parties are advised to read the materials relating to the
proposed transaction that will be filed by Goldcorp and Canplats with
securities regulatory authorities in Canada and with the United States Securities
and Exchange Commission when they become available because they will contain
important information. Anyone may obtain copies of these documents when
available free of charge at the Canadian Securities Administrators' website at www.sedar.com and from the United States
Securities and Exchange Commission at its website at www.sec.gov. This announcement is for
informational purposes only and does not constitute an offer to purchase, a
solicitation of an offer to sell the Shares or a solicitation of a proxy.
Goldcorp is the lowest-cost
and fastest growing multi-million ounce gold producer with operations
throughout the Americas. Its gold production 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. (�Goldcorp�). Forward-looking
statements include, but are not limited to, statements with respect to the
proposed business combination with Canplats Resources Corporation and the
competing offer for Canplats Resources Corporation made by Minera Penmont S.de
R.L. de C.V. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as �plans�, �expects�
or �does not expect�, �is expected�, �budget�, �scheduled�, �estimates�,
�forecasts�, �intends�, �anticipates� or �does not anticipate�, �believes� 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�. 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 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, 2008 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. Goldcorp
does not undertake to update any forward-looking statements that are included
in this document, except in accordance with applicable securities laws.
CONTACT INFORMATION:
Jeff Wilhoit
Vice President, Investor Relations
(604) 696-3074
Fax: (604) 696-3001
Email: info@goldcorp.com
Website: www.goldcorp.com