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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
F O R M 6 - K
[X] Pursuant to Rule 13a-16 or 15d-16 of the SECURITIES EXCHANGE ACT OF 1934
GOLDCORP INC.
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(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 1-12970
PROVINCE OF ONTARIO 98770100
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(State of other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
SUITE 2700, 145 KING STREET WEST
TORONTO, ONTARIO, CANADA M5H 1J9
(416) 865-0326
(Registrant's telephone number, including area code)
Indicate by check mark whether the Registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20 - F [ ] Form 40-F [ X ]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
commission pursuant to Rule 12g3-(b) under the Securities Exchange Act of 1934.
Yes [ ] No [ X ]
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FORM 27
MATERIAL CHANGE REPORT UNDER SECTION 75(2) OF THE ACT
ONTARIO SECURITIES ACT OR EQUIVALENT IN OTHER PROVINCES
ITEM 1 REPORTING ISSUER:
GOLDCORP INC.
Suite 2700, 145 King Street West
TORONTO, Ontario
M5H 1J8
Canada
ITEM 2 DATE OF MATERIAL CHANGE:
December 23, 1997.
ITEM 3 PRESS RELEASE
December 23, 1997
ITEM 4 SUMMARY OF MATERIAL CHANGE:
Goldcorp will sell its industrial mineral operations to Canadian
Industrial Minerals Income Trust.
ITEM 5 FULL DESCRIPTION OF MATERIAL CHANGE:
Goldcorp Inc. ("Goldcorp") and Canadian Industrial Minerals Income
Trust (the "Trust"), a new income trust formed by Goldcorp, jointly
announced today that the Trust has filed a preliminary prospectus for
an initial public offering of units of the Trust with the securities
regulatory authorities in each of the provinces of Canada. Proceeds of
the offering will be used to acquire the assets and undertaking of
Goldcorp's Industrial Minerals Division. The offering will be sold on
a best efforts basis by a group led by CIBC Wood Gundy Securities Inc.
The Industrial Minerals Division is comprised of two divisions:
Saskatchewan Minerals which produces natural sodium sulphate at two
locations in Saskatchewan; and Havelock Lime which produces lime and
limestone products in New Brunswick. Both divisions have been
operating for over 50 years. Saskatchewan Minerals is one of the
world's larger producers of natural high-quality sodium sulphate.
Havelock Lime is a
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leading producer of lime and limestone products sold throughout
Canada's Atlantic Provinces and the State of Maine.
Goldcorp will continue to manage and build the business and operations
of the Trust but will no longer have an ownership interest in the
Industrial Minerals Division. Forecasted 1998 revenues and
distributable cash are $67.2 million and $13.8 million, respectively.
The transaction is expected to close prior to the end of February,
1998.
Goldcorp will use the proceeds from the sale to fund capital and
development costs at its Red Lake Mine, as well as for other corporate
requirements. Development and capital costs at the Red Lake Mine will
be approximately $115 million.
The securities being offered have not been registered in the United
States under the SECURITIES ACT OF 1933 and may not be offered or sold
in the United States.
ITEM 6 RELIANCE ON SECTION 75(3) OF THE ACT:
Not Applicable.
ITEM 7 OMITTED INFORMATION
Not Applicable.
ITEM 8 SENIOR OFFICER:
Abraham N. Rubinfeld
Corporate Counsel and Secretary
Goldcorp Inc.
Suite 2700, 145 King Street West
TORONTO, Ontario M5H 1J8
Telephone: (416) 865-0326
Facsimile: (416) 361-5741
ITEM 9 STATEMENT OF SENIOR OFFICER:
The foregoing accurately discloses the material change referred
to herein.
Toronto, Ontario
December 30, 1997
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Abraham N. Rubinfeld
Corporate Counsel and Secretary
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GOLDCORP INC.
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Suite 2700, 145 King Street West, Toronto, Ontario M5H 1J8 Canada
website: www.goldcorp.com
NEWS RELEASE
GOLDCORP TO SELL ITS INDUSTRIAL MINERAL OPERATIONS
CANADIAN INDUSTRIAL MINERALS INCOME TRUST FILES
PRELIMINARY PROSPECTUS
Toronto, Ontario
December 23, 1997
GOLDCORP INC. (TSE/ME: G.A, G.B; NYSE: GG.A, GG.B) and CANADIAN INDUSTRIAL
MINERALS INCOME TRUST, a new income trust formed by Goldcorp, jointly announced
today that the Trust has filed a preliminary prospectus for an initial public
offering of units of the Trust with the securities regulatory authorities in
each of the provinces of Canada. Proceeds of the offering will be used to
acquire the assets and undertaking of Goldcorp's Industrial Minerals Division.
The offering will be sold on a best efforts basis by a group led by CIBC Wood
Gundy Securities Inc.
The Industrial Minerals Division is comprised of two divisions: Saskatchewan
Minerals which produces natural sodium sulphate at two locations in
Saskatchewan; and Havelock Lime which produces lime and limestone products in
New Brunswick. Both divisions have been operating for over 50 years.
Saskatchewan Minerals is one of the world's larger producers of natural
high-quality sodium sulphate. Havelock Lime is a leading producer of lime and
limestone products sold throughout Canada's Atlantic Provinces and the State of
Maine.
Goldcorp will continue to manage and build the business and operations of the
Trust but will no longer have an ownership interest in the Industrial Minerals
Division. Forecasted 1998 revenues and distributable cash are $67.2 million and
$13.8 million, respectively.
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Goldcorp will use the proceeds from the sale to fund capital and development
costs at its Red Lake Mine, as well as for other corporate requirements.
Development and capital costs at the Red Lake Mine will be approximately $115
million.
The transaction is expected to close prior to the end of February, 1998.
Goldcorp is a North American-based gold producer. In addition to its Red Lake
Mine, Goldcorp owns and operates an open pit gold mine located in the Black
Hills of South Dakota.
The securities being offered have not been registered in the United States under
the SECURITIES ACT OF 1933 and may not be offered or sold in the United States.
For further information, please contact:
Robert R. McEwen
Chairman and Chief Executive Officer
Tel: (416) 865-0326
Fax: (416) 361-5741
email: [email protected]
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SIGNATURE
Pursuant to the requirements of the SECURITIES EXCHANGE ACT OF 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
GOLDCORP INC.
By /s/ Abraham N. Rubinfeld
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Abraham N. Rubinfeld
Corporate Counsel and
Secretary
(Duly Authorized Officer)
Date: January 8, 1998
