Goldcorp Updates Shareholding in Delta Gold Corporation
OREANDA-NEWS. GOLDCORP INC. (TSX: G), (NYSE: GG) reports that through its wholly-owned subsidiary, Goldcorp USA Inc., it has received 22,059,000 common shares (the "Shares") in the capital of Delta Gold Corporation (formerly ADR Capital Corp.) ("Delta") pursuant to a reverse takeover transaction involving Delta Gold Inc. that was completed on February 13, 2013 (the "Transaction") as described in the Filing Statement of Delta dated December 28, 2012 and filed on www.sedar.com. The Shares received by Goldcorp pursuant to the Transaction represent approximately 11.5% of the 191,171,258 issued and outstanding common shares of Delta, and have an estimated value of USD 2.5 million. Pursuant to the Transaction, each Delta Gold Inc. common share was exchanged for 4.4118 common shares of Delta.
Goldcorp previously received 5,000,000 common shares of Delta Gold Inc. as a first payment for the granting of an option to Delta Gold Inc. to purchase the 100% Goldcorp-owned Imperial project, located in California, USA in June of 2012.
Subject to compliance with applicable securities laws in respect of the resale of the Shares, Goldcorp may purchase, sell or acquire securities of Delta in the future on the open market or in private transactions, depending on market conditions and other factors material to its investment decisions.
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