Goldcorp announces the acquisition of Kaminak Gold

Mergers, Acquisitions & Divestitures
Transaction Details

Fort Capital Partners is pleased to announce that Goldcorp Inc. has entered into a definitive arrangement agreement to purchase all of the common shares of Kaminak Gold Corporation for total consideration of C$520 million. The transaction, which remains subject to shareholder approval, has been approved by the Board of Kaminak. Directors, officers, and certain shareholders of Kaminak representing approximately 27.5% of Kaminak’s outstanding shares have entered into agreements to vote in favour of the transaction.

Kaminak’s key asset is the 100%-owned Coffee Gold project (“Coffee”), a structurally hosted hydrothermal gold deposit located 130 kilometres from Dawson City in Yukon Territory. Coffee is a high-grade, open pit, heap leach mining project located in a top tier mining jurisdiction. Comprising over 60,000 hectares, there is significant potential for near-mine discoveries and mineralization remains open along strike and at depth. Coffee currently has total indicated gold mineral resources of 3.0 million ounces (63.7Mt @1.45g/t) and total inferred gold mineral resources of 2.2 million ounces (52.4Mt @ 1.31g/t), inclusive of total probable gold mineral reserves of 2.2 million ounces (46.4Mt @ 1.45g/t).

Under the arrangement, each common share of Kaminak will be exchanged for 0.10896 common shares of Goldcorp. Based on the closing price of Goldcorp’s common shares prior to announcement, the transaction values each Kaminak share at C$2.62. The consideration received by Kaminak shareholders represents a premium of 33% over Kaminak’s TSX-V closing share price on May 11, and a 40% premium over the volume-weighted average share price over the preceding 20 days.

Goldcorp has retained Fort Capital Partners and RBC Capital Markets as financial advisors on the transaction, with legal advice from Cassels Brock & Blackwell LLP.  Kaminak is being advised by BMO Capital Markets and Blake Cassels & Graydon LLP.

Goldcorp Inc. is a global senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.

Fort Capital Inc. is an investment bank that works with public and private companies in Canada. The firm draws from collective capital markets experience to provide its clients with proven, accessible and independent investment banking advice and transaction execution.  For more information, visit

View the original press release from Goldcorp

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