Goldcorp Inc. has finalised the previously announced sale of its stake in the Camino Rojo Oxide project, located in Zacatecas, Mexico, to Orla Mining Ltd. The closing follows receipt of Mexican anti-trust approval and the satisfaction of closing conditions customary in a transaction of this nature.
Due to an asset purchase agreement entered into between Goldcorp and Orla, Goldcorp indirectly acquired 31 860 141 common shares of Orla. This represents approximately 19.88% of the issued and outstanding Orla Shares immediately following the closing of the transaction. Goldcorp did not own or control any Orla shares prior to the completion of the transaction. The Orla shares are currently being held by Goldcorp for investment purposes. Goldcorp may, from time to time, and subject to the terms of an investor rights agreement with Orla, acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of Orla.