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Monday, January 19, 2015

Goldcorp to purchase Probe Mines for about $440 million, (NYSE: GG)

Goldcorp Inc said on Monday it has agreed to purchase Probe Mines Ltd in an all-stock deal that values the metals exploration company at C$526 million ($439 million), in a bid to win control of the Borden Gold project in northern Ontario. Goldcorp has agreed to buy each share of Probe for 0.1755 common shares of Goldcorp. Based on Friday's closing price of Goldcorp's shares, the deal values each Probe share at C$5.00.The deal offers Probe shareholders a 49 percent premium to the company's closing price of C$3.36 a share on Friday.($1 = 1.1983 Canadian dollars)

Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. Shares of GG traded higher by 4.94% or $1.12/share to $23.81. In the past year, the shares have traded as low as $17.01 and as high as $29.65. On average, 10353200 shares of GG exchange hands on a given day and today's volume is recorded at 20265118.