VANCOUVER,
BRITISH COLUMBIA,
November 13, 2006 -
GOLDCORP INC.
today
announced that, pursuant to
its previously announced acquisition
of Glamis Gold
Ltd. which was effective on
November 4, 2006, each Glamis
share has been
exchanged for 1.69 shares of
Goldcorp and Cdn.$0.0001 in
cash. The procedures
for former registered and non-registered
Glamis shareholders to receive
certificates representing their
Goldcorp shares are described
below.
Registered
Glamis Shareholders
A
letter
of transmittal was mailed to
all former registered Glamis
shareholders on
November 6, 2006. To receive
certificates representing their
Goldcorp shares,
registered shareholders must
submit their Glamis share certificates,
together
with completed letters of transmittal,
to Goldcorp's transfer agent,
CIBC Mellon
Trust Company.
The
share
exchange process can take up
to 10 days (taking into account
mailing time) from
the time registered shareholders
have sent Glamis share certificates
and
completed letters of transmittal
to CIBC Mellon.
Registered
Glamis shareholders who have
not received letters of transmittal
should contact
CIBC Mellon at (416) 643-5500
(Toronto only) or toll
free
at 1-800-387-0825. A copy of
the letter of transmittal is
also available on
Goldcorp’s website at www.goldcorp.com.
Non-Registered
Glamis Shareholders
Former
non-registered Glamis shareholders
are not required to submit
a letter of
transmittal to receive Goldcorp
shares. For non-registered
shareholders, The
Canadian Depository for Securities
Limited (CDS) in Canada and
the Depository
Trust Company (DTC) in the
United States submit
the
Glamis share certificates and
positions on behalf of the
brokers and other
intermediaries who hold the
former non-registered Glamis
shareholders’ Glamis
shares to Goldcorp's transfer
agent, CIBC Mellon. CIBC Mellon
will then issue
Goldcorp share certificates
to CDS and DTC. Once the depositories
have received
the Goldcorp share certificates,
Goldcorp share positions will
be shown in the
book-based system.
Former
non-registered Glamis shareholders
should contact their broker
or other
intermediary with any questions
on the status of their Goldcorp
shares in their
brokerage accounts.
Section
85 Tax Election
Former
registered Glamis shareholders
who intend to make an election
under section 85
of the Income Tax Act (Canada),
in order for the exchange of
their Glamis shares
for Goldcorp shares to be treated
on a tax deferred basis for
Canadian income
tax purposes, should indicate
that intention in the space
provided in the letter
of transmittal. If so indicated,
these former registered Glamis
shareholders
will be sent a tax election
package including the necessary
election
forms.
A
letter
describing the tax election
process for former non-registered
Glamis
shareholders will be sent shortly
to CDS and DTC for distribution
to brokers and
other intermediaries. Brokers
and other intermediaries should
provide the
information to former non-registered
Glamis shareholders who wish
to have their
exchange of Glamis shares for
Goldcorp shares treated on
a tax deferred basis
for Canadian income tax purposes.
Former non-registered Glamis
shareholders
should contact their broker
or other intermediary to receive
the tax election
package and necessary election
forms.
Dividend
Entitlement
Former
Glamis shareholders, whether
registered or non-registered,
who have not
completed the exchange of their
shares are entitled to receive
dividends payable
in respect of Goldcorp shares
held on dividend record dates
after November 4,
2006, including the dividend
payable to Goldcorp shareholders
of record on
November 17, 2006. Former Glamis
shareholders will receive dividend
cheques upon
completion of the share exchange
process.
Goldcorp
is one of the world’s lowest-cost and fastest growing
multi-million ounce gold
producers with operations throughout
the Americas and Australia.
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. Forward-looking statements
include, but
are not limited to, statements
with respect to the future
price of gold, silver
and copper, the estimation
of mineral reserves and resources,
the realization of
mineral reserve estimates,
the timing and amount of estimated
future production,
costs of production, capital
expenditures, costs and timing
of the development
of new deposits, success of
exploration activities, permitting
time lines,
hedging practices, currency
exchange rate fluctuations,
requirements for
additional capital, government
regulation of mining operations,
environmental
risks, unanticipated reclamation
expenses, timing and possible
outcome of
pending litigation, title disputes
or claims and limitations on
insurance
coverage. 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”, or “believes”, or variations
of such words and phrases or
state 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: risks related to
the integration of acquisitions;
risks related to
international operations; risks
related to joint venture operations;
actual
results of current exploration
activities; actual results
of current reclamation
activities; conclusions of
economic evaluations; changes
in project parameters
as plans continue to be refined;
future prices of gold, silver
and copper;
possible variations in ore
reserves, grade or recovery
rates; failure of plant,
equipment or processes to operate
as anticipated; accidents,
labour disputes and
other risks of the mining industry;
delays in obtaining governmental
approvals
or financing or in the completion
of development or construction
activities, as
well as 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, 2005, available
on www.sedar.com, and Form
40-F for the year
ended December 31, 2005 on
file with the United States
Securities and Exchange
Commission in Washington, D.C.
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 incorporated by reference
herein, except in accordance
with applicable
securities laws.
For
further information, please
contact:
Melanie
Pilon
Director,
Investor Relations
Goldcorp
Inc.
3400-666
Burrard Street
Vancouver,
British Columbia, V6C 2X8
Telephone:
(604) 696-3024
Fax:
(604)
696-3001
e-mail:
info@goldcorp.com
website:
www.goldcorp.com