Goldcorp Completes Private Placement In Evolving Gold Corp.
Monday, July 12th, 2010
Goldcorp Inc. announce that it has completed the acquisition of 19,047,721 common shares of Evolving Gold Corp. (TSXV: EVG, FSE:EV7) by way of a private placement at a price of C$0.82 per share for aggregate gross proceeds to Evolving Gold of C$15,619,131.
After giving effect to the transaction, Goldcorp beneficially owns and controls approximately 15% of the outstanding common shares of Evolving Gold. Pursuant to the terms of the private placement, Goldcorp has the right, subject to certain conditions, to participate in future equity financings and certain non-cash transactions undertaken by Evolving Gold to maintain its relative interest in the Company, for a period of up to five years.
Goldcorp has acquired the common shares of Evolving Gold for investment purposes. Goldcorp has no present intention to increase its holdings in Evolving Gold although it will evaluate the investment in response to market conditions, the business and prospects of Evolving Gold and other factors.
Evolving Gold is focused on exploring its significant discovery at Rattlesnake Hills, Wyoming, an alkalic gold system, similar to the Cripple Creek gold district in Colorado, and on gold properties in and adjacent to the productive Carlin district of northern Nevada.