Market Overview

Goldcorp Acquires Additional Shares In Probe Mines


Following Monday’s news that Goldcorp Inc. (USA) (NYSE: GG) will acquire all outstanding shares in Probe Mines Limited (OTC: PROBF), the company announced an additional acquisition of shares on Wednesday.

According to the company’s press release, it will purchase 7,320,200 common shares of Probe Mines Limited and 2,347,951 warrants to purchase common shares of Probe from Agnico Eagle Mines Limited (USA) (NYSE: AEM) for cash consideration of C$5.00 per common share and C$2.90 per warrant for an aggregate purchase price of approximately C$43 million.

"We are pleased to have received the support of Agnico in respect of our proposed acquisition of Probe," said Chuck Jeannes , Goldcorp's President and CEO. "With the acquisition of Agnico's common shares in Probe and the above warrants, Goldcorp now controls approximately 19.9 percent of Probe."

Agnico Eagle Mines fell following the news and recently traded at $32.34, down 2.41 percent.

Goldcorp recently traded at $24.60, up 1.49 percent.


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