OREANDA-NEWS. Goldcorp Inc. is pleased to announce the closing of the previously announced acquisition of Kaminak Gold Corporation ("Kaminak") (TSX-V: KAM) by way of a court-approved plan of arrangement (the "Arrangement"). 

"The acquisition of Kaminak and its Coffee project in the Yukon is consistent with our strategy of populating our asset pipeline with opportunities that are accretive to net asset value per share," said David Garofalo, Goldcorp President and Chief Executive Officer.  "With a large, geologically prospective land package in a mining friendly jurisdiction, the Coffee project has the potential to grow into a camp to deliver long-term significant sustainable value for our partners and stakeholders.  Kaminak has done an excellent job engaging with First Nations throughout the initial exploration phases, which will serve as a solid foundation for us to build upon as the project enters the next phase of development." 

Pursuant to the Arrangement, Goldcorp acquired all of the issued and outstanding common shares of Kaminak for consideration of 0.10896 of a common shares of Goldcorp for each outstanding Kaminak share.  Goldcorp now owns 100% of the outstanding Kaminak shares.  On closing of the Arrangement, Goldcorp issued an aggregate of 20,997,312 Goldcorp Shares to former Kaminak shareholders, including former holders of Kaminak options, who now hold approximately 2.5% of the 853,398,240 Goldcorp Shares issued and outstanding, on an undiluted basis.    

The Kaminak shares are expected to be delisted from the TSX Venture Exchange on or about July 20, 2016.

Full details of the Arrangement and certain other matters are set out in the management information circular of Kaminak dated June 7, 2016 (the "Information Circular").The purpose of the Arrangement was to acquire all of the issued and outstanding Kaminak shares.

Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.