Goldcorp Buys Addl. Stake In Probe Mines From Agnico Eagle Mines - Quick Facts

(RTTNews) - Canadian gold miner Goldcorp Inc. (GG, G.TO) has agreed to purchase around 7.32 million shares of Probe Mines Ltd. (PRB.V) and about 2.35 million warrants to buy common shares of Probe from Agnico Eagle Mines Ltd. (AEM, AEM.TO) for cash consideration of C$5.00 per share and C$2.90 per warrant for an aggregate purchase price of nearly C$43 million. Each warrant is exercisable to buy one common share of Probe at a price of C$2.10 until May 28, 2015. The purchase of the Probe common shares and warrants is likely to close on or about January 28, 2015.

Chuck Jeannes, Goldcorp's President and CEO stated: "With the acquisition of Agnico's common shares in Probe and the above warrants, Goldcorp now controls approximately 19.9% of Probe."

Currently, Goldcorp owns 8.4 million shares of Probe, representing 9.3% of the basic shares outstanding. Following the acquisition from Agnico, Goldcorp will own 15,720,200 Probe shares and 2,347,951 warrants, representing beneficial ownership of 18,068,151 Probe shares, or 19.9% on a partially-diluted basis.