Exeter Resource Corporation Joins Forces with Goldcorp Inc. in Strategic Acquisition
In a move that reshapes the landscape of the mining industry, Exeter Resource Corporation (NYSE-MKT:XRA)(TSX:XRC) (Frankfurt:EXB) has officially become a wholly-owned subsidiary of Goldcorp Inc. (TSX:G) (NYSE:GG), a prominent figure in the mining sector. This development follows the final order granted by the Supreme Court of British Columbia on August 1, 2017 and is currently awaiting the last nod from the Toronto Stock Exchange.
The terms of the acquisition stipulate that Exeter shareholders, with the exception of Goldcorp, are set to receive 0.12 of a common share for each share of Exeter they possess. This transaction is poised to result in the delisting of Exeter’s shares from the Toronto Stock Exchange, anticipated to occur around August 8, 2017. The removal of shares from the NYSE-MKT and the Börse Frankfurt (Frankfurt Stock Exchange) will follow suit. The specifics of this arrangement were detailed in a management information circular released by Exeter on June 27, 2017.
The acquisition marks a significant transition for Exeter, which has operated as an independent entity. The integration into Goldcorp’s expansive organizational framework is expected to herald a new era for the business, aligning with Goldcorp’s strategic objectives and broadening its operational scope. The acquisition has been carefully planned to ensure a seamless transition for all involved.
This announcement contains forward-looking statements regarding the expected results of the acquisition. These forward-looking statements are based on currently available information and are subject to a number of factors that could cause actual results to differ materially, including market conditions and the satisfaction of conditions precedent. Exeter has cautioned that it does not intend to update these forward-looking statements after the announcement, except as required by applicable securities laws.
The acquisition of Exeter Resource Corporation by Goldcorp Inc. marks a turning point for the former, signaling the end of its independent operations and the beginning of its assimilation into a larger, well-established mining company. With the approval of the Supreme Court of British Columbia and pending the final green light from the Toronto Stock Exchange, the acquisition will redefine Exeter’s trajectory. As the enterprise embarks on this new chapter, it is poised to conform to Goldcorp’s strategic blueprint, potentially resulting in improved operational efficiencies and a more streamlined approach to mining operations. This event underscores the fluid and ever-changing nature of the mining industry and the ongoing transformation of corporate structures within the sector.
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