Page 14 Newmont Goldcorp Becomes Reality Merger The merger between Newmont and Goldcorp which began in early Jan uary 2019 became a reality in April with the overwhelming support of the companies respective share holders and the approval of Invest ment Canada Act With the overwhelming support of both companies shareholders and the necessary regulatory approv als in hand we will close the trans action on April 18th said Gary Goldberg Chief Executive Ofcer W e are grateful to our employees shareholders partners and govern ment stakeholders for their support and cooperation throughout this process Newmont shareholders voted 76 percent to increase the outstanding shares and approved the issuance of shares according to the transac tion agreement with more than 98 percent of the votes cast Earlier Goldcorp shareholders vot ed by 97 percent to approve New mont s purchase of all of the com pany s shares In the deal valued at about 10 bil lion US Goldcorp shareholders will receive from Newmont 0328 of a share and two cents in cash for each of Goldcorp s outstanding common shares The new company created by the merger will be known as Newmont Goldcorp and will be owned 65 per cent by current Newmont share holders and 35 per cent by Gold corp shareholders Shortly after the shareholders ap proved the NewmontGoldcorp deal Canada s Minister for Innova tion Science and Economic Devel opment gave the Canadian govern ment s approval required under the Investment Canada Act The merger creates the largest gold mining company in the world surpassing the 6 Billion merger between Barrick and Randgold that occurred in the fall of 2018 In the process Barrick tendered an ofer to merge with Newmont that was withdrawn in favour of a joint venture between Barrick and New mont in Nevada where each com pany has large holdings Once in place V ancouver Gold corp s head ofce will become the North American head ofce for Newmont Goldcorp Head ofce will be in Denver Colorado The newly created Newmont Gold corp will target six to seven million ounces of gold over a decadeslong time horizon and have the largest gold reserves and resources in the gold sector Newmont operates 10 gold mines on four continents North America South America Africa and Austra lia Goldcorp has mines in Canada one in Argentina and one in Mexico The Canadian mines are Eleonore in Quebec Red Lake Musselwhite and Hoyle Pond Dome and Hol linger Open Pit in T immins Ontario T immins mines now fall under a new name NEWMONT GOLD CORP Porcipine In addition there are four development projects that are nearing completion In Ontario there are three projects Borden Century Cochenour and Cofee in the Y ukon Goldcorp s Borden Mine Canada s frst allelectric mine is advancing towards commericial production by the second half of 2019 Borden is a key part of a plan to increase pro duction by 20 by 2021 The questions remain about how Goldcorp s present operations in cluding Red Lake Borden Porcu pine Gold Mines and Eleonore ft into the new Newmont Goldcorp structure Answers to those questions will un fold as the Newmont Goldcorp inte grate and evaluate the after merger operations By Frank Giorno